Snapchat's latest digital media partner, Mitú, counts WPP among its investors, offering the agency holding company another inroad with the hot startup ahead of its anticipated IPO.
Mitú, a digital media company that specializes in creating English-language video for Hispanic youth in the U.S., is introducing a Snapchat Discover channel this week.
Discover is an ever-changing line-up of media partners inside Snapchat that get special access to the app to create daily editions and programs -- a mix of videos, animations, GIFs and articles.
Mitú, whose other investors include Verizon and AwesomenessTV, creates videos and distributes them mostly on Facebook, where it targets young Hispanics in the United States. It joins Discover publishers such as BuzzFeed, Cosmopolitan, Vice, MTV and TBS.
"It's smart from Snapchat's perspective," said Mike Su, Mitú's chief product officer, referring to the app's decision to add a publisher serving young Hispanics. "That's the fastest-growing segment."
Snapchat has been picking Discover partners partly to attract specific different segments to each channel and try to give advertisers insights into the interests of the audience for targeting purposes.
WPP already has a connection to Snapchat, with which it formed an ad agency called Truffle Pig in 2014, part of an effort for the holding company to get closer to the high-flying app.
Mitú's place on Discover could also help. "There are conversations between us and WPP about how we could be of great service to their constellation of brands," said Danny Johnson, Mitú's CMO. "That's a daily dialogue."
Last week, WPP CEO Martin Sorrell said publicly that the company's brands account for $70 million in ad spending on Snapchat.
Mitú declined to discuss the economics of its arrangement with Snapchat. Snapchat has been moving Discover publishers from deals that see them splitting ad revenue on their channels to arrangements where Snapchat pays them to license content and keeps the ad revenue.
Snapchat is preparing to go public in 2017, and needs to show surging revenue to justify a high valuation on Wall Street. Discover is not the primary section of the app, which is most known for personal video messaging, but it keeps Snapchat top-of-mind for publishers and brands.