Time Warner to create shows for Snapchat
The logo of messaging app Snapchat Photograph: (Reuters)
Time Warner and Snap entered into an agreement to develop original shows for messaging service Snapchat over the next two years.
Though the companies did not disclose any financial terms, a source said the deal was valued at $100 million.
The media company's HBO, Turner, and Warner Bros units will advertise on Snapchat as they try to grab the attention of millennials, who are increasingly moving to mobile and online from traditional TV.
Time Warner said it expects to air three shows per day by the end of this year. Snapchat currently airs one show per day for its users, which lasts for three to five minutes.
Snap has been working with media companies and studios such as NBC, ESPN, BBC, and Discovery Networks.
"We're confident this partnership will help drive larger audiences to our shows," said Gary Ginsberg, Time Warner's marketing and communications head.