Facebook to start investing in original video content?
Staff Reporter | On 15, Dec 2016Reading time: 2 mins
Facebook is looking at starting to invest in original video content.
The social media giant has been putting more and more of its eggs in the streaming basket in the last year, taking on YouTube by allowing anyone to upload footage. A dedicated video space within its app, and an emphasis on video in user timelines, have added to the site’s video focus.
Now, though, Recode reports that Facebook may take the next step and begin producing its own original shows. According to the site, Ricky Van Veen – CollegueHumour Co-Founder and recently appointed Head of Global Creative Strategy for Facebook – says that the company is in talks with TV studios and other producers about licensing shows for streaming on the social network. The move would take Facebook away from user-generated and third-party content into the same arena as Netflix and others, seemingly confirming the site’s evolution from a technology firm into a media firm.
It would not be the first time that Facebook has splashed its cash on video content, with the site offering publishers money to stream live videos, hoping to kickstart a community of viewers and broadcasters. Some of these are for as much as $1 million a year, far from the sums paid by traditional TV networks, but still enough to elevate Facebook into the streaming stratosphere – a space now also occupied by Twitter, which has signed deals with companies such as NFL to grow its own video offering.
“Earlier this year, we started rolling out the Video tab, a dedicated place for video on Facebook. Our goal is to kickstart an ecosystem of partner content for the tab, so we’re exploring funding some seed video content, including original and licensed scripted, unscripted, and sports content, that takes advantage of mobile and the social interaction unique to Facebook,” Van Veen reportedly said in a statement to Recode (via Engadget). “Our goal is to show people what is possible on the platform and learn as we continue to work with video partners around the world.”