Snap Inc (NYSE:SNAP) is hoping to keep users engaged with short-form shows, including news and sports programming, but it’s difficult to tell if the strategy is working.
As Engadget reports, the messaging platform has attracted a number of high-profile show producers, but the results are still murky:
Snapchat won’t admit it, but Facebook may have inadvertently driven its push into original programming. Conquering that world won’t be easy, and right now there are more questions than answers about whether Snapchat shows are working and how viable they are.
Over the past few months, Snapchat has lined up a slew of TV networks to create exclusive content for its Shows platform, such as A+E Networks, Discovery, ESPN, NBCUniversal and Turner (owner of CNN, TBS and TNT). According to The Wall Street Journal, Snapchat is also in talks with CBS and Fox, two of the biggest players in the TV industry. It’s an ambitious effort, and Snapchat appears confident that it has the perfect formula for viable mobile-first, short-form video programming.
NBC has a vested interest in hoping its shows succeed, along with Snapchat itself. The broadcasting giant, which is owned by Comcast, invested $500 million in Snap’s March IPO (that investment is firmly in the red so far). It was also one of the first networks to sign on to produce original shows for Snap’s platform.
The network says that its Snapchat-exclusive Stay Tuned news show — which is shot in portrait mode and features short episodes lasting two to five minutes — has earned 29 million views since it debuted. Snap says the show has 4 million subscribers.
Snap Inc shares closed at $15.07 on Friday, up $0.37 (+2.52%). Year-to-date, SNAP has declined -38.44%, versus a 20.47% rise in the benchmark S&P 500 index during the same period.