World Wrestling Entertainment, Inc. (NYSE:WWE) will be introducing monthly programming on Snapchat’s platform Snap Inc (NYSE:SNAP). The company is seeking to expand its social media and mobile presence and that said, it has a scheduled launch for rolling out the content by the end of August. Snap is getting into a market already crowded with over-the-top content providers. However, it is still optimistic about getting a share of the large and growing audience of cord-cutters.
Snap’s goal is to release at least two new shows per day
WWE’s ever first-ever Snapchat Show went live earlier in the year. As a result of its success, Snap is inclining on a goal, which will see it release at least two new shows per day. It is already upping its game by entering into programming deals with the likes of Walt Disney Co, Discovery Communications Inc and Comcast Corporation among others.
Snap hopes to outdo the traditional TV programming with its shows, given that it is targeting three to five minutes per show. Jayar Donlan, WWE EVP of digital and social content says, “Snapchat is our fastest-growing social platform overall. The Wrestlemania-themed Snapchat Show allowed WWE to “reach existing fans and new fans and a younger demographic of fans.”
No upfront payment to content providers
WWE launch comes at the height of an aggressive competition in the market whereby every company is seeking to enhance its services. Apparently, neither WWE nor content providers will get any upfront payment from Snap for the content it airs on its app. Instead Snap has chosen to have a 50-50 division of ad revenue with providers.
Nonetheless, besides the money, WWE is looking at a bigger picture. It is hopeful to be able to promote its events through the new Snap programming, which will in return entice new subscribers to its WWE Network. There are many speculations about the launch of the program but it until August that they can be confirmed. In the meantime, WWE’s stock closed at $20.45 a fall of $0.14 or 0.68%.