Dive Brief: 

• According to anonymous insider sources, Snapchat has instituted a minimum for any ads at $750,000 a day. 
• Although Snapchat declined to comment, the advertisers claim the mobile app is reaching out only to category leaders it knows can afford top dollar campaigns. 
• The app has over 100 million users and ads on the platform can attract tens of millions of views, but the young app is still struggling to pull together audience data for targeting. 

Dive Insight: 

While the price tag seems high, Snapchat is still drawing in a lot of major advertisers. According to a study from Millword Brown, the ads are working. Universal Studios saw a 13% increase in ticket sales after running Snapchat ads for the films "Ouija" and "Dumber and Dumber To." The sizeable audience and healthy track record could make Snapchat's prices worth the risk for some major advertisers. Many thought that the anonymity nature of Snapchat would send users running once ads started appearing—but advertisers seem to have proven the naysayers wrong.