Snapchat claims major Olympic win

It's taking on Facebook and Twitter as a platform to follow live events

Over 50 million people have watched the Olympics on Snapchat during the first week of the games.

The ephemeral messaging app has partnered with traditional broadcasters around the world who are trying to reach millennial audiences.

It has partnered with TV stations in seven countries including NBC in the US and Britain's BBC. 

Stories featuring content from the games and user-sourced footage from spectators appear on the app for 24 hours and vanish (as do all 'stories' on Snapchat).

Everyday 10 billion videos are watched on the app and almost one in three of its overall users have watched video from the Olympics.

Snapchat is also collaborating with Buzzfeed to produce Olympic content in the US.

The Financial Times reports that NBC is sharing add revenue from adverts placed in the video with Snapchat.

This puts the app in competition with Facebook and Twitter a destination for users to turn to when following live events.

Research in the US has found that 41% of all 18 to 34-year-olds us the app every day.

Meanwhile, Facebook is looking to use the sporting event as a platform to promote its live streaming. It's partnered with media companies, and individual high profile Olympians and Olympic teams, including Team Great Britain, Team Brazil and Team Japan.