Time Warner and Snapchat attempt to win back millennials with $100M deal
It involves a two-year agreeme...
Time Warner announced today that it will provide content for Snap in an advertising and content deal worth $100 million.
It involves a two-year agreement that will have Time Warner using its Turner, Warner Bros and HBO brands to provide short pieces of content for Snapchat.
Time Warner have said they plan on airing three shows on Snapchat per day by the end of the year. This means Time Warner will now be able to advertise their movies and TV shows on Snapchat and Snap will be able to work with the network behind some of the biggest films and TV shows.
The deal comes after increasing reports that millennials aren’t watching content via traditional methods and Time Warner is targeting Snapchat in the hopes that they will be able to appeal to a demographic that’s been pulling away.
CBS Vision released a study earlier this year regarding watching patterns in millennials - and the numbers make grim reading for television broadcasters.
Television consumption generally increases as people get older, with adults aged 25-34 watching 67% more TV in 2016 than they did when they were in the 18-24 group.
These findings have been put down to a sense of "delayed adulthood" according to David Poltrack, President of CBS Vision. Millenials don't feel like they are truly an 'adult' until they are past the age of 30, whilst around 50% of 18-24-year-olds are still living at home with their parents.
On-demand streaming services like Netflix and Amazon Prime have been welcomed primarily by people who fall into the Millennial and Generation Z demographics, which ultimately could signal an end to traditional television as we know it.
The move into the digital sphere is an attempt to try and target this 'lost' viewership, as millennials especially are prime advertising material.
Earlier this year, Snapchat also announced it was bringing its spectacles to Europe in another wave of technologically-driven developments to recover its flailing audience, after the success of Instagram Stories.
How can technology help cut business costs?
Businesses are always looking for ways to cut costs and help increase profitability. Choosing quick fixes that reduce expenses, such as redundancies, can often decrease quality, and also impede the company’s reputation.
Upgrading technology and how the company use it can improve the business, although it may require an upfront investment, it will help save money in the long run. We take a look at some of the different ways that technology can help improve business costs.
Time is precious when you have a business, every hour counts, and the budget accounts for each hour, whether that be operating costs or paying employees. Implementing efficient processes is a way to decrease delays, and make sure the business runs smoothly.
Technology can help to quicken everyday duties such as:
- Communicating with team members
- Accessing and locating files
- Scheduling meetings and tasks
- Monitoring progress and results
- Managing annual leave and absences
Going paperless is becoming more common, and there are many advantages of paperless environments in the digital age. It eliminates the need for physical storage solutions, so you don’t need to pay for using an off-site storage facility. If you usually keep files in the office, storing them digitally will create more space so that you can grow your team.
With a paperless system filing documents no longer means printing them out, then having to search for them manually later on. Digital storage can be done in seconds, and retrieval involves a quick computer search. The reduction in employee work hours spent on menial tasks is significant.
Moving to the cloud
The 2021 Flexera State of the Cloud Report shows that COVID-19 has had a significant impact on cloud adoption in 2020. The report found that multi-cloud continues to be the dominant strategy, adopted by nearly all surveyed enterprises, 92% of respondents reported having a multi-cloud strategy. 82% are taking a hybrid approach, combining the use of both public and private clouds.
With cloud computing, businesses can store and access data over the internet no matter where they are. It helps employees who are located in different areas to collaborate in a highly convenient and secure manner. Cost saving is one of the biggest Cloud Computing benefits. It helps you to save substantial capital cost as it does not need any physical hardware investments. Also, you do not need trained personnel to maintain the hardware. The buying and managing of equipment is done by the cloud service provider.
Running your business digitally gives you the option to operate remotely, full or part-time. With employees working from home, it enables businesses to downsize or remove the office altogether, to save on rent costs. With minimal staff onsite there will be other savings such as electricity and cleaning. Having remote employees could also reduce the cost of serving refreshments/catering, which some companies offer.
Ensuring your staff members can operate efficiently and safely from home is extremely important. Providing equipment such as laptops, monitors and mobile phones is essential, but to also make sure these devices are secure and have sufficient security measures.
The past year forced businesses to adapt quickly to remote working, and video calls become the norm. Zoom, a popular video call app, generated $2.6 billion revenue in 2020, a 317% increase year-on-year. Instead of paying for travel for client meetings, you can conduct them for free through a video conference tool. You can also access or host webinars through video conferences.