- Snap (NYSE:SNAP) has reversed field late today -- now up 1.8% after being down as much as 4% following cautious notes from Odeon and Barclays -- after news of a deal tied to the 2018 Winter Olympics.
- The company has signed with NBCUniversal (NASDAQ:CMCSA) to become a digital home for Olympic content, including related geofilters and Snapchat "lenses." Ad commitments tied to the deal could come in the range of $50M-$75M, The Wall Street Journal reports.
- The two had partnered last year with a deal regarding highlights for the Rio Olympics, the first time NBC allowed Olympic video off its property.
- Expanding on that arrangement, Snapchat will also carry coverage of the Winter Games that BuzzFeed will co-produce with NBC.