NBCUniversal invests $500 million in Snap
NBCUniversal is now the only U.S. media company that has an official stake in Snap. Today, NBC Universal (which is a unit of Comcast) revealed that it invested $500 million in Snap as a strategic investment partnership during yesterdays IPO. Snap shares popped 44 percent in the first day of trading. NBCUniversal has been pursuing digital media aggressively in the past year, including investments in Buzzfeed, Vox, and acquisitions of SportsEngine and Awesomeness TV. According to CNBC, NBC has spent approximately $1.5 billion on digital media assets in the last 18 months. While Snapchat has continued to grow in popularity among teens and young adults partially through funny photo filters and stylish recording sunglasses called Spectacles the companys content push hasnt been quite as well-received. Discover, Snapchats news platform, requires publishers to write and format content specifically for Snapchat, and all of these stories have only 24 hours to live on the platform before disappearing. The investment from NBC Universal may signal changes to Snaps media strategy.
Read Full Article at https://techcrunch.com/2017/03/03/nbcuniversal-invests-500-million-in-snap/
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