Time Warner has struck a significant content deal with Snap, the company behind Snapchat, both companies announced Monday morning. Under the terms of the deal, which is valued at $100 million, Time Warner will produce up to ten original shows for Snapchat per year.
Time Warner also committed to buy ads for HBO, Turner, and Warner Bros. on Snapchat. The deal is set to last for two years.
“This is an exciting and natural move as we bring together some of our leading video properties and brands with Snapchat’s dynamic platform,” Time Warner marketing EVP Gary Ginsberg said in a statement. “We’re confident this partnership will help drive larger audiences to our shows and to the new direct to consumer platforms we continue to rollout.”
“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,” said Snap’s VP of content Nick Bell.
Episodes of the shows produced by Time Warner will last three to five minutes each. Some of the genres Time Warner is looking to produce in include comedy and drama.
This isn’t Snap’s first content deal with a major media company. In March, Snap inked a deal with MGM to produce original short-form video. The company also has deals with ABC, NBC, ESPN, the NFL, Turner, the BBC, Vice Media, A+E Networks, and Discovery Communications, among others.
By adding Time Warner to this roster, Snap is looking to significantly increase the number of originals on its platform. Currently, Snap and its content partners publish about one new original episode per day on the service. The company is aiming to have three new episodes per day by the end of the year.
