Snapchat is getting some gray.
The New York Times, or the Gray Lady, will join Snapchat Discover, the app’s network of media outlets, the companies announced Thursday (Mashable is a Discover partner).
On Snapchat, The Times will offer a daily edition, published Monday to Friday, of its “Morning Briefing,” an email digest of the day’s news. The edition will be available in the U.S., Canada and Australia, where Snapchat has about 64 million daily active users.
There’s no set launch date.
The announcement is quite convenient timing for both companies. The New York Times reported its quarterly revenue and full-year 2016 earnings on Thursday, and Snap Inc. is expected to file the papers for its initial public offering as early as this week.
The year was decent for The Times, despite what President Donald Trump has been tweeting. The company had its best quarter for subscriber additions since 2011, bringing on 276,000 new digital subscribers.
But not everything is up at The Times.
i’m glad the nyt is gaining subs but revenue is down, operating profit is down, layoffs coming. weird to see staff celebrating, spinning
John Cook (@johnjcook) February 2, 2017
Discover allows The New York Times to further increase their digital revenues as its print revenue declines. Print ad revenue decreased 15.8 percent over the full year and digital advertising increased 5.9 percent.
On Discover, The Times also can reach a new set of younger eyeballs. Snapchat reaches 41 percent of 18 to 34 year olds in the U.S., according to Nielsen.
Were seeing enormous interest on the part of younger audiences for the sort of smart, visual digital journalism for which The Times has become known. And Snapchat is an ideal place to reach that audience,” Kinsey Wilson, executive vice president, product and technology, The New York Times Company, said in a statement.
“At the end of the day, our goal is to make sure our journalism reaches the widest possible audience and that we continue the rapid growth weve seen in our base of loyal subscribers growth that comes in large part from reaching new audiences on other platforms,” Wilson continued.
As Mashable previously reported, partners can make quite a bit of money from Discover, some between six figures while others in the tens of millions. That’s small for a TV studio but big for some publishers. The Times brought in $1.6 billion in revenue for 2016, down 2 percent from the year prior.
Terms of the deal were not disclosed. Publishers can either make money from video ads sold within a Discover edition or through a licensing deal with Snapchat. Ads will appear in the Times edition.
For Snapchat, the deal adds to its industry credibility. The young company is trying to prove it can compete for ad dollars against TV and other social networks and publishers. Already, The Wall Street Journal and more than 40 partners produce content for the app.
The New York Times is one of the worlds leading sources for authoritative and credible information the very values that we built Discover on, Nick Bell, Snap’s VP of Content, said in a statement. We are thrilled that Snapchatters will soon have daily access to the brilliant journalism and strong editorial perspective that The Times brings to covering the most important issues we face.