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Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

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Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

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Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

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Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
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Here’s Why Disney Is Creating Shows for Snapchat

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December 21, 2016, 2:38 PM ET
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CITY OF COMMERCE, CA - NOVEMBER 05: Surfer and Snapchat Content Creator Danny Berk and Recording Artist and Actress Olivia Holt snapchat at the Citadel Outlets' 15th Annual Tree Lighting Concert at Citadel Outlets on November 5, 2016 in City of Commerce, California. (Photo by Greg Doherty/Getty Images)Photograph by Greg Doherty—Getty Images
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The Walt Disney Company’s U.S. television arm will create shows for Snap Inc’s Snapchat, Disney announced on Wednesday, in Snapchat’s latest deal with a major U.S. media company.

Financial terms were not disclosed.

Snap, which is preparing for next year’s initial public offering, has signed a variety of advertising and content agreements this year with Viacom (VIAB), Comcast’s NBCUniversal (CMCSA) and Time Warner‘s Turner Broadcasting System (TWX).

Media companies such as Disney (DIS) partner with Snapchat in an effort to reach the type of younger viewers the social media company targets, which increasingly eschew traditional television. The two had previously worked together for a special Live Stories, a Snapchat feature that curates user-submitted photos and videos tied to a specific event, around ABC’s broadcast of the Academy Awards in February.

For more, read: Turner Broadcasting to Create Shows for Snapchat

Unlike in Snapchat’s other deals with media companies, where any ad sales responsibilities would be shared across both companies, Disney will control and sell all advertising for the shows it produces for Snapchat.

The agreement with the Disney-ABC Television Group, which includes the ABC broadcast network and cable channel Freeform, begins in January with a series around ABC’s popular The Bachelor franchise. The recap series, Watch Party: The Bachelor will debut Jan. 3, a day after the ABC show begins its 21st season.

Future shows based on other Disney-ABC properties will roll out on Snapchat later.

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“Earlier this year, we worked closely with Snap on a very successful The Oscars Live Story and we look forward to building on that relationship and providing Snapchat’s mobile-centric users with a unique, immersive experience around our shows and brands,” Disney-ABC Television executive John Frelinghuysen said in a statement.

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