Snapchat has signed a new deal with NBC which will see it host a range of exclusive programming around the 2020 Tokyo Olympics.
As reported by Variety:
"The 2020 Olympics partnership encompasses four daily original Snapchat Shows produced by NBC, exclusively for the platform in vertical-video orientation. Those include - for the first time - two highlights shows that will be updated in “near real-time,” according to the companies. Overall, NBC plans to produce more than 70 episodes for Snapchat, more than three times the 2018 Winter Games."
The deal follows Snapchat's coverage of the 2016 Olympics, and the 2018 Winter Olympics, the latter of which saw a significant increase in viewership on the platform.
For NBC, broadcasting on Snap gives it reach to a younger audience, helping to improve its branding, while it also stands to generate revenue for ad partners through its broadcasts. For Snap, it provides a new set of exclusive content, which could help it lure more users, and keep people more engaged in app, while also expanding ad opportunities.
The announcement underlines the strength of Snapchat, which, while it only serves a fraction of the audience of Facebook, has been able to solidify its position as the go-to app for many younger users. That specific focus is what's provided Snap with opportunities like this, with partners looking for ways to tap into emerging viewer behaviors and maintain links to the next generation.
Indeed, Snapchat has seen significant success of late with its Snap Originals programming, exclusive, vertical video, short-form shows, which have proven to be a winner with its audience.
In its most recent performance report, Snap said that more than 100 of its Discover channels are now reaching audiences in the double-digit millions per month. That could signify an evolution in viewer habits, which, for publishers, could make Snap a key focus in their strategic plans moving forward.
Twitter will also be airing its own Olympics content, though likely in a much different form, which will have its own implications for Twitter's ongoing video strategy. It'll be interesting to see what both platforms do on this front, and how their viewer numbers stack up.
For Snapchat, its a chance to showcase just how much allure it has with younger viewers, while for Twitter, it may be the last big push that decides whether it continues to allocate significant investment into its video content efforts.