Inside The LA Tech Job Fair As Jobless Claims in U.S. Rise To Four-Week High Amid Holiday
Snapchat logo at the TechFair LA job fair Patrick T. Fallon—Bloomberg/Getty Images

Time Warner Signs Deal to Develop Shows for Snapchat

Jun 19, 2017

Time Warner and Snap said on Monday they had entered into an agreement to develop original shows for messaging service Snapchat over the next two years.

The companies did not disclose the financial terms but a source familiar with the matter said the deal was valued at $100 million.

As part of the deal, the media company's HBO, Turner and Warner Bros units will advertise on Snapchat as they try to grab the attention of millennials, who are increasingly moving to mobile and online from traditional pay-TV.

Time Warner said it expects to air three shows per day by the end of this year. Snapchat currently airs one show per day for its users, which typically lasts for three to five minutes.

For more about Snap, watch:

Snap has been working with media companies and studios such as NBC, ESPN, BBC and Discovery Networks.

Get Data Sheet, Fortune’s daily technology newsletter.

"We're confident this partnership will help drive larger audiences to our shows," said Gary Ginsberg, Time Warner's marketing and communications head.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions