Time Warner and Snap have announced a global partnership spanning media spending and the development of made-for-Snap shows over the next two years. Under this new agreement, Time Warner will develop and produce Shows for the Snapchat app from across its networks and entertainment companies.
The companies did not disclose financial terms but the deal is valued at $100 million according to reports.
As part of the deal, the Time Warner’s HBO, Turner and Warner Bros units will advertise on Snapchat as they seek to garner the attention of millennials, who are increasingly moving to mobile devices and online for TV content. Time Warner said it expects to air three shows per day by the end of this year.
“As a company that has driven the evolution of media, this is an exciting and natural move as we bring together some of our leading video properties and brands with Snapchat’s dynamic platform,” said Gary Ginsberg, Time Warner Executive Vice President Corporate Marketing and Communications. “Partnering with Snap will help drive this compelling new format, exposing its user base to innovative and engaging video from brands and characters they trust and enjoy. We’re confident this partnership will help drive larger audiences to our shows and to the new direct to consumer platforms we continue to rollout. ”
“Time Warner and their brands have long been pioneers of what incredible, premium content looks like, and we’re thrilled that innovators across their expansive network will begin producing Shows for Snapchat,” added Nick Bell, Vice President of Content for Snap. “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.”
Since September, Snap has worked with various networks and studios to bring premium mobile TV-like Shows to Snapchatters, including NBC, ABC, CBS, ESPN, the NFL, BBC, Discovery Networks, Scripps Networks, MGM Television, A+E Networks, Vertical Networks and VICE. Shows are shot and produced exclusively for the platform’s vertical format, run 3-5 minutes in length, full-screen and immersive. They are hyper-visual, featuring motion graphics, split screens, quick cuts and more, inspired by the expressive communication Snapchatters use to talk to their closest friends.
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