Snapchat may have rebranded as a camera company, but Snap Inc. recently announced one of the largest TV deals for the company yet. On Monday, Snap Inc. announced an agreement with Time Warner to develop original shows for the Snapchat platform.
Snapchat users can expect to see three shows a day before the end of 2017, according to Time Warner. Up to 10 original shows are expected to stem from the agreement. Time Warner is the parent company for multiple TV channels, including HBO, Turner and Warner Bros. Entertainment. Time Warner will advertise on the platform, focusing on millennials as young adults trend toward mobile and streaming entertainment over traditional paid cable.
Neither company shared financial details, but an unidentified source suggested the deal is worth $100 million. The deal covers a two-year time period. An earlier report suggested that agreements with other media companies were not paid for on an up-front basis, but by giving the content creators a cut of the ad revenue.
Snap already has a number of agreements in place for generating original content as the company explores avenues beyond just social media. Much of the original content comes in the form of three to five shows designed in keeping with the social media platform’s much imitated short-lived chats and stories. Snap’s network deals already include an unscripted dating series from A+E, original clips from NBC’s existing shows, originals from Turner, along with several others.
The agreement is part of a growing effort to redefine traditional TV entertainment. Snapchat is not the only social media platform to branch out into original shows — Facebook also recently signed several deals for original videos and Twitter is growing as a platform for live videos. When social media platforms generate more views, they can also generate more revenue through ad sales, which has multiple platforms experimenting with entertainment options.
Snapchat’s original mini-shows stream from the platform’s Stories section, mixing content from media companies with individual users.
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