Viacom, whose ratings and ad revenues have been falling as young consumers turn to digital media, has formed a new partnership with Snapchat, the messaging app popular with kids now.
The deal allows Viacom to sell advertising during content it and Snapchat create for Snapchat’s Discovery platform, according to the Wall Street Journal. Viacom executives are also advising Snapchat on the advertising business.
Viacom, which owns youth-oriented networks like MTV and Nickelodeon, reports its earnings Tuesday. It is controlled by 92-year-old media mogul Sumner Redstone, who last week was replaced as chairman. His replacement, CEO Philippe Dauman, is expected to talk about the Snapchat deal on the company’s earnings call, according to the paper.
The deal is also seen as a way to help Snapchat attract more big advertisers.
Read more at B&C.