Time Warner Strikes $100 Million Content Deal With Snap
The company that owns HBO and Warner Bros. will develop shows made for Snapchat under the two-year deal.
Time Warner has struck a $100 million content deal with Snapchat's parent company to make shows exclusively for the app, a source familiar with the deal confirmed to The Hollywood Reporter.
Under the two-year deal with Snap Inc., Time Warner — which owns Warner Bros. as well as cable networks CNN, HBO, TBS and TNT — will develop and produce up to 10 made-for-Snapchat shows per year. The projects will span genres, including scripted dramas and comedies, and will reach across Time Warner's networks and entertainment properties, meaning that Wonder Woman or Batman could one day end up on Snapchat.
The entertainment company has also agreed to advertise HBO, Turner and Warner Bros. on Snapchat throughout the deal period.
"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," Gary Ginsberg, Time Warner executive vp corporate marketing and communications, said Monday 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."
The Evan Spiegel-led company, which recently went public, has been aggressive in its push into original programming, launching shows from NBC, ABC, A+E and Vice. Some of these projects include existing franchises, such as The Bachelor or The Voice, and others are completely new ideas designed specifically for Snapchat. The tech company's deal with Time Warner is its most comprehensive to date.
"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," Snap content chief Nick Bell said 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."
Snapchat shows are all shot vertically and are typically between three and five minutes long. The company expects to increase its original programming from one show per day to three shows per day by the end of this year.