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Snap is partnering with NBCUniversal to form a digital content studio to create scripted programming for Snapchat, The Wall Street Journal reports.
The new studio, which has not been named yet, has already tapped production company Donut Studios, which has created programming for HBO and Netflix, to create short-form content targeted at 18- to 24-year-olds. The partnership strengthens NBCUniversal’s ties with Snap, as the media company invested $500 million into Snap’s IPO.
Creating its own studio gives Snap greater control of its programming strategy. A studio may allow the company to be more nimble in its content strategy, as it can simply create the type of show it looks to have in its content library, rather than repurposing an existing TV show that fits what the company is looking for. However, adopting a content strategy more heavily reliant on original programming is likely riskier than recreating existing TV shows with proven appeal, such as when Snapchat repurposed NBC’s The Voice.
A greater push into original programming could also bode well for Snap’s effort to attract high-profile creators. Original programming such as Hulu’s The Handmaid’s Tale and Netflix’s House Of Cards have contributed to help put each respective streaming service on the map of the creative community. Snap likely hopes to create an original series that generates the same type of buzz, as it better positions the company to lure successful creators to its platform.
Leading the pivot to video are the major social platforms — Facebook, Instagram, and Snapchat — as well as YouTube, the early pioneer in digital video. These platforms are increasingly prioritizing video on their properties, and also moving to secure high-quality original programming that mimics TV. Meanwhile, publishers and other media companies, brands, and advertisers are all swept up in the tide and are reorganizing their operations to focus on video.
The ultimate goal of these digital video companies is to create a market that can complement (or rival) and eventually surpass that of traditional TV. Although these leading social platforms are all-in on video, they each approach the space differently. Facebook's game plan differs from Snap's, which differs from YouTube's. Understanding these nuances is important for industry participants.
Robert Elder, research analyst for BI Intelligence, Business Insider's premium research service, has put together a detailed report on social video that:
- Assesses the evolving social video landscape, with attention to Facebook, YouTube, Snap, and Instagram.
- Analyzes the relative strengths of each platform from a product, distribution, audience, and monetization perspective.
- Looks at what’s next for the industry, so that media creators and brands can invest for the future.
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