FILE PHOTO -- A billboard displays the logo of Snapchat above Times Square in New York March 12, 2015. REUTERS/Lucas Jackson/File Photo
August 21, 2017
By Sheila Dang
(Reuters) – CNN on Monday began streaming “The Update,” a daily show on Snapchat featuring at least five news stories each episode from reporters and bureaus around the world, to attract younger viewers.
CNN, NBC and other networks are creating more digital content to reach millennials, who increasingly get their news from social media.
CNN had 42 million unique visitors between 18 and 34 across desktops and mobile phones in July. That already makes it the top digital news source among millennials, ahead of BuzzFeed and New York Times Digital, according to comScore data.
“The Update” will stream daily at 6 p.m. ET and have both existing footage from the field and video shot exclusively for Snapchat.
Shares of Snapchat parent Snap Inc have fallen 44 percent from their closing price on March 2, their first day of trading. Some investors have questioned the company’s ability to vie for users and advertising dollars with rivals like Facebook Inc’s Instagram, which has similar features.
CNN was an original content partner for Discover, a Snapchat feature that was introduced in January 2015 and lets users watch stories from publishers.
“The Update” is CNN’s first show on Snapchat. It follows NBC’s “Stay Tuned” news program, which has drawn more than 29 million unique total viewers since its launch last month, Snap confirmed. Axios first reported the viewership numbers.
More than 60 percent of the “Stay Tuned” audience is under 25, and more than 40 percent watched the show at least three days a week, showing potential for publishers to reach a key younger audience on Snapchat.
CNN is owned by Turner Broadcasting, a unit of Time Warner Inc, whose planned sale to AT&T Inc is under regulatory review.
(Reporting by Sheila Dang; Editing by Anna Driver and Lisa Von Ahn)