The parent company of Snapchat, Snap is teaming up with NBC Universal to make Snap scripted TV shows. This partnership is a major move in an effort to compete with Amazon and Netflix.
This week it was announced the Snap is teaming up with NBC Universal to make Snap scripted TV shows. The two companies plan to make a joint venture in the form of a new digital content studio based in Santa Monica. NBC Universal’s Lauren Anderson said, “As mobile audiences continue to grow, [NBC] is excited to expand the type of content [they] can develop.” Anderson was appointed to head this partnership as chief content officer and she will also be chief of the Santa Monica based studio. Previously Anderson oversaw hit shows like NBC’s “Parks and Recreation” and “The Office.”
In addition to Anderson, Donut Studio’s co-founders Mark and Jay Duplass are joining the venture. The two will create scripted programming on Snapchat through Donut. Previously the Duplass brothers created hit shows like HBO’s “Room 104” and Netflix’s drama film “Bluejay.” They say they are “terrified and thrilled” to take on the challenge of shooting in a vertical mobile format. Snap and NBC Universal haven’t specified how many shows the Duplass brothers will produce. However, they have a target of 8 to 10 minutes per episode that appeals to millennials.
The past year was tough for Snap’s stock price. The stock price went from a high of $29.44 to a low of $16.26. Snap hopes that deepening their partnership up with NBC Universal will help them compete with companies like Amazon and Netflix. This is the biggest move that Snap has made in regards to investing and producing original content. Snap hopes this move will allow them to be in the driver’s seat rather than relying heavily on their partners.