Time Warner Inks $100 Million Content Deal With Snapchat19 Jun, 2017 By: Erik Gruenwedel
Time Warner has signed a $100 million content license agreement with social media app service Snapchat.
Under the agreement, Warner Bros., Turner and HBO will create/license up to 10 short-form dramas and comedies annually.
“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,” Gary Ginsberg, EVP of corporate marketing and communications. “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.”
Indeed, Snapchat is a must-have app among the coveted high school and 18-24 demographic that consumes its entertainment largely on mobile phones than the television. As a result, much of the ad-supported content could be shorter (three-to-five minutes) in length than conventional broadcasts.
Content is hyper-visual, featuring motion graphics, split screens, quick cuts and more, inspired by the expressive communication Snapchatters use to talk to their closest friends.
By the end of this year, Snapchat expects to have three shows airing per day, and will introduce a wide range of formats, including animation, documentaries, scripted drama, comedies, daily news and a lot more.
Snap currently streams full-length episodes of “The Voice,” and in 2015 streamed highlights from the NFL draft — reportedly drawing 31 million viewers. The service bowed a dedicated NFL channel last season featuring articles and highlight videos — but no actual games — drawing 41 million unique viewers.
Twitter streamed 10 NFL Thursday Night games last season — an agreement now held by Amazon Prime Video for the 2017-18 season.
The Time Warner deal comes on the heels of similar Snap content agreements with NBC Universal, A&E Networks, Discovery Communications and CBS.
Time Warner is in the regulatory phase of its $85 billion acquisition by AT&T.