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OP here. I added "to become" to the title because I think the TechCrunch title which just says "becomes" is misleading, implying Snapchat already is the mobile HBO just because it wants to be.

On a discussion note, I'm so confused by this. Who wants this? How is this going to help them? People want to watch TV shows shot in vertical video on their phones? It seems like a desperate move by a company that knows it isn't doing well with its existing platform. How is it not?