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TV
networks of the Time Warner Inc unit, including TBS and Adult
Swim, will create original series exclusively for the unit of
Snap, Inc, the broadcaster said in a statement.
The companies also renewed their March agreement for Snapchat to
create Live Stories, collections of user-submitted photos and
videos centered around a specific event, with sports shows from
Turner. The shows include the National Collegiate Athletic
Association (NCAAA) Division I Men's Basketball Championship and
the Professional Golfers' Association (PGA) Championship.
Turner will lead sales efforts for Live Stories and shows, while
Snapchat will take the lead for sponsorships on the Discover
channels.
Financial terms were not disclosed.
Turner formed the partnership with Snap in 2015, and forged
links with other digital media companies, to court younger
viewers who prefer mobile gadgets to television. Turner said its
networks reach more than 75 percent of millennials each month,
the same audience that Snapchat targets.
The partnership began with the launch of Snapchat's Discover
feature which allows companies to offer and manage their own
content. The original channels included Turner's CNN and
Bleacher Report, a San Francisco-based sports news website.
Bleacher Report, which had been available worldwide except in
the United States, France and Australia, will launch a U.S.
Discover channel on Jan. 4. CNN will increase its content on
Discover.
Snap has partnered with multiple traditional U.S. media
companies, including Viacom Inc and Comcast Corp's NBCUniversal,
as it prepares to go public early next year.
This year Turner has also invested in digital media companies
Mashable and Refinery29, and launched a digital video startup
within CNN called Great Big Story.
(Reporting by Tim Baysinger; Editing by Richard Chang)
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