Time Warner is the latest media company to sign a content deal with Snapchat.
According to the Hollywood Reporter, Time Warner—parent company to HBO, Warner Bros. and Turner—has a new agreement reportedly valued at $100 million to craft exclusive content for Snapchat. The two-year deal will have Time Warner making up to 10 original series for Snapchat each year, and the shows will span genres including drama and comedy, and pull from existing Time Warner properties.
"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 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. We're confident this partnership will help drive larger audiences to our shows and to the new direct-to-consumer platforms we continue to roll out."
"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 Snap content chief Nick Bell in a statement. "This partnership is another exciting step as we continue to brand out into new genres, including scripted dramas, comedies, daily news shows, documentaries and beyond."
Today’s announcement marks Snapchat’s continued work to forge alliances with more traditional media companies that are looking to put their content in front of viewers outside of pay TV and broadcast.
Earlier this year, NBCUniversal put a $500 million investment into Snap’s IPO as part of NBC’s digital media strategy. Prior to the investment, NBC had already been working with Snapchat on creating both addition and show format content. Addition format content includes the Snapchat material NBC had BuzzFeed help it create for the 2016 Summer Olympics, while the show format for NBC includes its five-week run of a “The Voice” spinoff and “The Rundown.”
Also this year, Snapchat signed a content deal with A+E Networks. According to Variety, the short-form show called "Second Chance"—which features couples working through relationship issues—is being produced by A+E’s digital agency 45th & Dean.