It is no longer news that social media giant Facebook wants a share of the original video content pie and is doing all it can to make this happen. Well to put money where their mouth is, the social media giants is set to dish out $1 billion to invest in original TV content, produce original TV shows for their platform and become a major video hub like Netflix and YouTube.
However, the figure can change or fluctuate based on the success of the TV content shows which will run through 2018 as reported by The Wall Street Journal. Rivals such as Netflix, Amazon, have or are spending over $6 billion and $4.5 billion in 2017 respectively which is far more than what the social media giants intend to start with.
The company has improved its strategy for video content, including cutting deals for digital TV shows. Early last month, Facebook rolled out “Watch” service — a redesigned video platform for creators and publishers — for every US citizen who uses the social media platform. Facebook is offering a range of different options for discovering video content, including programmes and sections like “Today’s Spotlight”, “New This Week”, “Popular Now”, “What Friends Are Watching”, “Most Talked About”, “Suggested For You”, and a special “10 Minutes Or More” spot for long-form videos.
Apple which is another potential competitor is spending $1b as well but has teamed up top producers for original content too.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
