Snap this week landed a deal with Time Warner, which will see the latter develop scripted shows for the former’s flagship app, Snapchat.
The two-year deal, which includes running ads for HBO and Warner Bros, perked up Snap’s stagnant stock price today.
According to sourced cited in the Wall Street Journal, the deal is valued at $100 million.
Snap wants as many as three shows on Snapchat every day by the end of the year. Those shows will span several genres, including dramas, comedies, news, and documentaries, according to Nick Bell, vice president of content for Snap.
Snap is among many tech companies investing in original video content, including Apple and Facebook.