Updated: Time Warner has agreed to a $100 million program development deal with Snap, the Wall Street Journal reports — sending shares in the owner of Snapchat up about 2.5% in mid-day trading.

The companies reportedly will jointly develop up to 10 shows a year, including scripted comedies and dramas, with Time Warner committing to buy ads on Snap over the next two years for HBO, Warner Bros, and its Turner networks.

Snapchat Shows typically run about five minutes or less. Ones from Time Warner will showcase its brands and personalities.

Time Warner and Snap will split ad revenues from the Shows they co-produce.

The deal provides a booster shot for Snap, whose shares have lost more than 26% of their value since the company went public in March after it reported disappointing user growth numbers.

Snapchat runs about one Show a day now, but hopes to have three by year end.

“Time Warner and their brands have long been pioneers of what incredible, premium content looks like, and we’re thrilled that innovators across their expansive network will begin producing Shows for Snapchat,” Snap VP of Content Nick Bell says. “This partnership is another exciting step as we continue to branch out into new genres, including scripted dramas, comedies, daily news Shows, documentaries, and beyond.”