Can Snap Help Discovery Go for the Gold?

Can Snap Help Discovery Go for the Gold?

One of last week's hardest-hit stocks -- Discovery Communications (NASDAQ: DISCA) (NASDAQ: DISCK) -- could be getting a boost from one of last week's biggest winners. Snapchat parent Snap, Inc. (NYSE: SNAP) is teaming up with Discovery's Eurosport to promote next year's Winter Olympic Games in South Korea.

Discovery Communications holds the exclusive TV and multimedia rights for the Olympic Games through 2024 in 50 different countries and European territories. Multilanguage Eurosport-curated videos will be produced for Snapchat's Stories feature. It's a win-win deal. Discovery will be able to get its content in front of jaded millennials who aren't watching live sports as much as they used to. Snapchat gets to draw in a global audience at a time when rival Instagram is eating its lunch overseas. 

Image source: Snap, Inc.

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Source: Fool.com