Snapchat is reported to be lining up media companies to make original programming for its hit smartphone application, as it attempts to retain its $25bn (£19.3bn, €22.8bn) stock market valuation. Father or mother company Snap Inc has been said to have struck up works with NBC Universal, Discovery, ESPN and Vice Media to produce brief shows aimed at young adults and young adults, which will be aired on its new Snap TELEVISION SET platform.
According to The Wsj, the start-up has already secured deals for original shows from a number of production companies and news outlets, which will run for between three and five minutes and can appear within the ”Stories” section of the Snapchat smartphone app. This kind of will include off-shoots of popular tv set series Home Hunters and Chopped, resources near the matter said.
While the shows will only run for a few minutes, Snap has to be sourcing production-quality content rather than just promotional material for development already found on regular television. As such, Breeze TV will give you reality TV SET, scripted dramas, daily reports shows, horror, documentaries and animated series, and may operate as a catch-up service allowing users to “binge-watch” series like they can on Netflix and Amazon online Video.
The evident reason Snap is looking at original programming is to raise the amount of time its 158 million users stay within the iphone app, as well as increase earnings streams from advertising. Both of these will bolster the company’s stock market performance and show to investors that the $25bn valuation is substantiated.
Snapchat will reportedly reveal ad earnings using its mass media partners rather than paying for the shows downright, with the company offering a 50-50 split for original shows. Snap is likely to announce some of its programming deals in the coming days and comes after Twitter joined with Bloomberg to create a 24/7 video reports channel, that is launched this autumn.