SNAP AND TIME WARNER SIGN $100 MILLION CONTENT DEAL

Snap Inc. and Time Warner Inc. announced a global partnership to develop made-for-Snap shows over the next two years. The deal, reportedly valued at $100 million, will include both entertainment and advertising content.

The deal with Time Warner, parent company of Warner Bros., HBO and Turner (whose networks include CNN, TNT, TBS and Cartoon Network) will include a range of genres. Time Warner also plans to commit to investing in advertising from HBO, Turner and Warner Bros. on Snapchat for two years.

“Partnering with Snap will help drive this compelling new format, exposing its user base to innovative and engaging video from brands and characters they enjoy,” Time Warner spokesman 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 roll out.”

The two companies said the partnership would help fuel an increase in shows available daily on Snapchat, increasing the number of shows from one to three by the end of the year. The programming is set to include animation, documentaries, and news along with scripted comedy and drama.