Snap, the owner of Snapchat, has signed a $100m deal with entertainment company Time Warner to produce original programming and advertising to appear on the platform, as the newly public company tries to grab a greater share of the ad dollars earned from younger audiences.
Time Warner will create shows to be shown on the Snapchat app from across its networks and entertainment companies in a two-year agreement that will expand Snap’s push into “mobile TV-like” video.
Gary Ginsberg, Time Warner executive vice president, said Snap had driven the “evolution of media”.
“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,” he said.
Snap is one of many internet companies competing to be the future of TV. Facebook is investing in original content to encourage people to watch longer form video on the social network. Meanwhile YouTube launched a subscription service last year and earlier this year created a live broadcasting service called YouTube TV.