NEW YORK (TheStreet) -- Facebook (FB) - Get Report and Instagram are teaming up with NBC for its coverage of the 2016 Summer Olympics in Rio de Janeiro, Brazil, CNBC's David Faber said on "Squawk Alley" Wednesday.
Olympic related posts by celebrities and athletes will be incorporated into NBC's coverage, Faber said.
NBC will produce a daily two-minute recap video of the Olympics for Facebook's users in the U.S.
This partnership will benefit both platforms as traditional media struggles to reach out to audiences on social media and social media seeks to offer its users more, high quality video content, Faber added.
"If you think about the Olympics and Instagram, they're really a perfect marriage and we're excited to be working with NBC around bringing video content to the platform," Instagram's head of global sports partnerships Brandon Gayle told CNBC.
There are over 165 million sports fans on Instagram out of our 500 million users. Instagram's goal is to bring those sports fans closer to the action in Rio, Gayle said.
He sees the partnership to increase the likelihood of sports fans watching the game on NBC.
"Certainly we're excited to have NBC sharing not only highlights, also behind-the-scenes clips serving as a complement and drive folks to tune into our broadcasts in real time," Gayle said.
Instagram's tools such as Instagram stories, photos, and videos will allow fans to connect to the Olympic sporting events in real time, he explained.
Gayle expects athletes to share authentic behind the scenes coverage because it is a platform they feel comfortable in.
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