Snap Signs $100 Million Partnership With Time Warner for Shows and Ads
Monday, 19 June 2017 Snap Inc. — parent company of popular disappearing messaging app Snapchat — has just inked a two-year deal with Time Warner to invest in original shows and ads on its content.
Snap Inc. confirmed the partnership with TheWrap on Monday, but did not disclose financials.
Time Warner will invest $100 million in Snap, and its Warner Bros. studio will partner on up to 10 shows. The Wall Street Journal reports Ellen DeGeneres, Samantha Bee and Wonder Woman may all be involved in the new shows.
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“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,” said Nick Bell, Vice President of Content for Snap in a statement. “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.”
As part of the partnership, Time Warner will invest in ads on Snapchat for its HBO, Turner and Warner Bros properties.
The deal helps Snap continue to bolster its slate of original content on Snapchat. The app offers about one original show per day, but will look to have three original pieces airing daily by the end of the year.
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Beyond its partnership with Time Warner, Snap has signed several deals to fortify its original shows, including deals with Vice, A+E Networks, and MGM Television. The programs run about 3-5 minutes in length.
“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 Inc. Executive VP of Corporate Marketing and Communications, in a statement. “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.”
Snap’s stock took a bump from the news as well, with the company jumping about 2 percent in early morning trading.
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