Facebook to Introduce Original Video Content in Push for Video Dominance

first_imgStay on target ‘Storm Loch Ness’ Joke Facebook Event Aims to Spot Folklore ‘Monster’Nearly 300K Alien Fans Sign Up to ‘Raid Area 51’ for Joke Facebook Event Facebook really wants you to use its video feature, whether it’s in streaming live video or in watching originals posted by media outlets (ask any body you might know who works in the media and how Facebook is forcing everybody to make video. They’ll tell you stories). It comes as no surprise then that Facebook is launching its own content, paying for original shows that’ll flesh out its video tab, according to the Hollywood Reporter. “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,” Ricky Van Veen, head of global creative strategy at Facebook, said. “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.” Van Veen, who moved over to Facebook from CollegeHumor, is leading the effort. He said that the company is having discussions with video producers.Facebook has already begun funding people and companies to produce original content. In June, the Wall Street Journal reported that it had paid around 140 companies and celebrities to create videos for live streaming, dishing out around $50 million in payments to places like Vox Media, Buzzfeed, CNN, the New York Times, and others.However, this move will push it closer to Netflix or YouTube Red territory, where it funds new series for exclusive streaming rights. It’ll probably be less TV series with hour-long episodes and closer to what YouTube has. In Facebook’s endless quest to compete against rival Google, which owns YouTube, this could signal the next step.“While video is somewhat limited as part of the news feed, we believe that Facebook has broader ambitions to introduce more video communications features, more in-feed video options, and potentially a stand-alone app that could compete more directly with YouTube,” Ben Schachter, a Macquarie Capital analyst, wrote in a report.This year, Facebook has been moving towards prioritizing video as a way to gain new users and keep a user base that’s moving toward other social media services like Snapchat. Live was a way for people to keep broadcasting the same thoughts that have powered Facebook’s early days, except with more interaction and less scripting. This is just the next step in that strategy. We’ll see if it pays off in the long run, but considering how many people have been using live streaming, whether they want to or not, it’s clear Facebook will at least get some people to be guinea pigs.Facebook hasn’t announced a preliminary lineup or what companies it might work with.last_img

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