NBCUniversal steps up its digital push with $500-million investment in Snap – Los Angeles Times

With its $500-million investment in the maker of Snapchat, NBCUniversal might just prove that you can teach an old dog new tricks.

The 90-year-old media company this week scooped up about 15% of Snap Inc.’s available shares during the Venice-based messaging app’s initial public offering. The move was part of NBCUniversal’s aggressive mission to immerse itself in digital media by forging tight partnerships with leading players of the space such as BuzzFeed News and Vox Media.

Navigating digital media to engage younger consumers is critically important for the company and other traditional media outlets grappling with rapid changes in consumer behavior.

NBCUniversal, owned by Comcast Corp., generates about half of its $7.2 billion a year in cash flow from its traditional TV properties, including the NBC broadcast network and cable TV channels such as Bravo, USA, Syfy, Golf Channel, E!, MSNBC and CNBC. But every year, TV ratings continue to decline, putting pressure on the company to adapt.

Comments

Write a Reply or Comment:

Your email address will not be published.*

Categories

  • Mobile