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Facebook to take on Netflix, YouTube and Amazon with original video content

By Cookie Monster - on 6 May 2017, 8:00pm

Facebook to take on Netflix, YouTube and Amazon with original video content

Image source: Facebook

Facebook could enter the original video content space from next month. 

Citing information from several people familiar with the plans, Business Insider reports that Facebook will be releasing about two dozen shows in mid June. Shows will be categorized in two tiers:

  • a lower tier for shorter, less costly shows with run times of about 5 to 10 minutes which refreshes daily
  • a higher tier for longer, big-budget shows with longer run times 

Its original video content initiative is said to help retain users, especially the younger segment which is migrating to Snapchat, and to bring in brand advertising revenue the way traditional TV does.

The initiative is led by CollegeHumor cofounder Ricky Van Veen, who has reportedly met several production firms and hearing pitches for shows between 5 to 30 minutes in length. Facebook has also given its approval for a virtual reality (VR) dating show where people go on their first dates in VR before meeting in real life. In addition, A-list celebrities are recruited to star in some of the shows. 

Unlike its rivals which have monthly subscriptions, Facebook plans to use ads to support the cost of production for these shows. This means that the shows will be free for everyone on the social networking site to watch.

It remains to be seen whether there is an audience for these shows and Facebook apparently "hasn't figured it out". For a start, Facebook has released standalone video apps for the Apple TV and other set-top boxes earlier this year, which could be used to feature its video content.

Source: Business Insider via 9to5Mac

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