Time Warner and Snap said on Monday they had gone into an agreement to create original shows for messaging service Snapchat over the next two years.
The organizations did not unveil the financial terms but a source familiar with the matter said the deal was esteemed at $100 million (generally Rs. 645 crores).
As part of the deal, the media organization’s HBO, Turner and Warner Bros units will advertise on Snapchat as they try to grab the attention of millennials, who are increasingly moving to mobile and online from traditional pay-TV.
Time Warner said it hopes to air three shows per day by the end of this year. Snapchat presently airs one show per day for its clients, which typically lasts for three to five minutes.
Snap has been working with media organizations and studios, for example, NBC, ESPN, BBC and Discovery Networks.
“We’re sure this partnership will help drive bigger audiences to our shows,” said Gary Ginsberg, Time Warner’s marketing and communications head.