Snapchat signs new agreement to develop mobile television
Snapchat has signed a contract with MGM to develop original TV programming for the social network. The partnership follows similar agreements with television networks such as NBC, ESPN and the BBC.
According to media reports, stand-alone programming is being developed to tell the entire narrative in four to five minutes and target the core audience of the social channel for young people.
MGM has not yet announced what programming it will provide for the station, but the company owns IP in a number of popular franchises, including MTV’s Teen Wolf, James Bond and The Hobbit.
Barry Poznick, President of Unscripted Television MGM, told journalists: The Snap team thinks differently about mobile television than anyone else in the field. They are innovators and offer us the unique opportunity to play our development and production muscles in a whole new way.
Poznick continued, “We’re excited to create content for your large and hard-to-reach audience that consumes entertainment in a very specific way.
Snapchat has come a long way from being a mobile app with a dubious reputation to being a public company valued at more than $ 25 billion, despite losing more than $ 500 million in the past year.
A recent survey found that 58% of college students in the US review Snapchat on mobile before anything else.
The company has made no secret of its ambitions to develop online TV through its social media platform and is busy planning advertising and other content deals.
Sportswear company Adidas recently praised Snapchat for its insane retention, claiming the social network achieved far higher retention than competitive social channels like YouTube.
Dan Moseley, Adidas Account Director at We Are Social, told delegates at last year’s Social Media Week event in London: [Snapchat] is regularly 80 to 90 percent higher [im Vergleich zu YouTube]. This is really important to show that we can deliver something that people can’t do without.
Snapchat, Strikes, Deal, Develop, Mobile, TV