Snapchat Inks $100 Million Deal With Time Warner To Create Entertainment Content
Time Warner is coming to a Snapchat near you. And no, we didn’t write that backwards. Announced via CNBC first on Monday (June 19), the companies pen a partnership deal which calls the television company to provide Snap, Inc. with $100 million to develop content for new shows and advertisements.
Snapchat shows typically run five to ten minutes in length and are featured on the “Shows” tab in the multimedia mobile app. Currently, the app is only premiering one show per day, but seeks to raise that mark to three shows by the end of the year. Attempting to increase their staying power amid the television-show-meets-social-sharing-platform trend, Snap’s Vice President of Content, Nick Bell, states, “This partnership is another exciting step as we continue to branch out into new genres, including scripted dramas, comedies, daily news Shows, documentaries, and beyond.”
The disappearing-message app’s content currently garners participation from networks along the lines of Discovery, A&E, NBC, ABC, BBC, Vice, among others.
According to Deadline, the partnership will yield 10-minute broadcasts including their targeted scripted-comedies and dramas, of which the companies will split the revenues. Time Warner will be purchasing ads on behalf of HBO, Warner Brothers, and its Turner networks.
Upon the announcement, Snap, Inc.’s share values leaped almost three percent.