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Illustration: Greg Ruben / Axios; Photo: Mark Lennihan / AP

Snapchat has launched over a dozen exclusive mobile partnerships this year, many of which are with TV networks, hoping to reach millennials who are cutting the cord. By comparison, Facebook and Twitter have been slow to win over publishers for exclusive video deals, focusing instead on pursuing live-streaming contracts, particularly in sports, and entertainment.

Why it matters: Snapchat can't stop Facebook from copying its features and eating its 'Stories' audience, so the self-proclaimed "camera company" is setting itself up to beat Facebook in the content game. Specifically, Snap is hoping to capture a piece of the roughly $70 billion U.S. TV ad market.

Why publishers like Snap: New Nielsen data commissioned by Snapchat and provided exclusively to Axios shows that Snapchat provided a 16% increase in average monthly reach in Discover partners' TV audience, compared to a 5% decrease for the six months prior to the partnership. Digital companies are finding similar success. The same study shows that Snap provided a 20% increase in average monthly desktop reach, and a 23% increase in their average monthly mobile reach for publishers on Discover. In some cases, Snapchat's younger reach means money. Per Mashable CEO Pete Cashmore:

Snapchat is our biggest revenue source on distributed platforms ... It's very profitable for us because it's a huge audience and it's an audience that we can't reach elsewhere.

What's next: Social platforms are becoming new homes for original content in shorter, digital-first formats. Grabyo media agency President Mike Kelley tells Axios, "Ad buyers see we have entered into a new era of content deals on social media platforms. They are competing for digital distribution rights through a combination of license fees, advertising or revenue share. The social platforms have become the new Comcast or DirectTV and are extending the 'golden age' of content for the foreseeable future."

Go deeper

Updated 28 mins ago - Sports

MLB headed for first lockout since '95 as deal expires

Baseball Commissioner Rob Manfred (L) and Major League Baseball Players Association executive director Tony Clark. Photo: Matt King/MLB via Getty Images

Major League Baseball's collective bargaining agreement expired at 11:59 p.m. ET Wednesday without a new deal in place.

Why it matters: With no CBA, the MLB is headed for the first management lockout since a 1994-95 strike led to the cancelation of the World Series for the first time in 90 years.

Media giants back Bannon's bid to release Jan. 6 documents

Former Trump adviser Steve Bannon at the FBI Washington Field Office in Washington, DC., in November. Photo: Win McNamee/Getty Images

A coalition of news outlets including the Washington Post is supporting Stephen Bannon's campaign for the release of documents related to his contempt of Congress charges, WashPost confirmed Wednesday.

Why it matters: WashPost, the New York Times, CNN, NBC, the Wall Street Journal's parent company and others filed a motion arguing that a proposed protective order seeking to prevent the documents from being released violates the First Amendment, per the Daily Mail, which first reported on the news.

Symone Sanders leaving VP's office

Vice President Kamala Harris and her press secretary Symone Sanders. Photo: Alex Wong/Getty Images

Symone Sanders, senior advisor and chief spokesperson to Vice President Kamala Harris, is leaving the VP’s office by the end of this year, three White House officials told Axios on Wednesday.

Why it matters: The VP has faced an onslaught of criticism in her first year centered on her leadership and staff, adding to the suggestion, she’s not the Democratic Party’s preferred nominee for 2024.