According to a media report, Facebook is going to invest in a $1 billion and planning to become a major hub for videos.
Facebook will join the race to produce original shows along with Netflix and Amazon who have a shelled a huge sum which is way more than what Facebook is planning to invest. Netflix has reportedly spent a whopping sum of $6 billion in 2017 and Amazon $4.5 billion.
This venture will account for the potential spending of the media giant through the year 2018, according to a report by The Wall Street Journal.
Facebook launched a redesigned video platform for creators and publishers i.e ‘Watch’ service for the US citizens who use social media. This clearly states the future plans of the company. Facebook is aligning itself to promote watching videos by offering a range of different options including programs and sections like ‘Today’s Spotlight‘, ‘Popular Now‘, ‘New This Week‘, ‘What Friends Are Watching‘, a special ‘10 Minutes Or More‘ spot for long-form videos.
They are focusing more on reality shows reportedly as it is cheap and don’t require scripts. The social media giant debuted with Business Insider’s lifestyle shows―The Great Cheese Hunt and It’s Cool, But Does It Really Work?
The social media giant last year launched ‘Video’ which offered a predictable place to find videos on Facebook. Let us wait and watch when Facebook publicly announce its entry into the world of series and shows.