Snapchat and Time Warner to create original shows in $100m deal 
Shares in social media site Snapchat rose 1.9% to $17.88 following the announcement of a deal between parent company Snap and broadcaster Time Warner to create up to 10 original shows for the site. The move will triple Snap's daily show output to three, with content to come from HBO and Turner TV networks, as well as Warner Bros's movie studio. The shows will include scripted drama, daily news bulletins, documentaries and comedy, and will run for three to five minutes. Time Warner executives gave no details of how ad revenue would be divided or how long the content could be viewed for.

Snap signed a $100 million deal with Time Warner on Monday to create as many as 10 original shows for its disappearing-message app.

The shows will come from all corners of the Time Warner empire — including its HBO and Turner TV networks and Warner Bros. movie studio — and will help Snapchat increase its daily output from one show to three.

Snap shares, which lately have taken a beating on worries about sluggish user growth, on Monday rose 1.9 percent to close at $17.88.

Time Warner executives in Cannes, France, declined to discuss how ad revenue will be shared between the two, or how long content would be windowed at Snapchat.

The newly public owner of Snapchat recently had been offering advertisers discounts to get into bed with its disappearing content. Time Warner said Monday it is developing short-form shows, typically lasting between three and five minutes, and will commit ad spending to the youthful messaging platform.

Snap is in Cannes to sign as many new advertisers and partners as possible to juice its quarterly earnings. Video partners say that Snapchat has been easier to work with than rival Facebook because it is able to execute more quickly.

Snapchat’s chief strategy officer Imran Khan was in Cannes meeting advertisers this week and attended a Hearst dinner. Hearst’s chief content officer, Joanna Coles, is on the board of Snapchat.

The deal is yet another sign of tech-based companies looking for premium video from traditional outlets to fuel their ad revenue. Snapchat’s sales unit is run by Jeff Lucas, a former ad sales boss at Viacom.

Snap has deals with several media outlets including Turner Networks, NFL, BBC, Discovery Networks, Scripps Networks, MGM Television, A+E Networks, Vertical Networks and VICE.