Facebook could spend up to $1 billion on original shows

Facebook wants more of its users to spend more time watching video on the social network and the tech firm is reportedly willing to shell out big bucks to attract original content.

The tech firm is willing to spend up to $1 billion to fuel the development of original shows on the platform, The Wall Street Journal reported, citing people familiar with the matter.

It’s another sign of how serious Facebook has gotten about video content on its platform.

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Last month, the company unveiled “Watch” so users can discover new shows that their friends and families are also watching.

But Facebook is also competing with other tech firms including YouTube, Amazon and Twitter for deals to stream sports and other events.

And the tech firm has been criticized before for inflating its video metrics, which could make marketers think twice about buying video ads on Facebook. This week, an analyst from Pivotal Research, pointed out that the company’s estimates of how many people it can reach with ads in the United States is more than the population count by the U.S. Census.

Facebook said that its ad-reach estimates aren’t designed to match the population count and could also include visitors and non-residents.

So can Facebook, which has more than 2 billion users, get more people watching video on the social network?

We’ll have to stay tuned to find out.

Photo: Mark Zuckerberg delivers the keynote address at Facebook’s F8 Developers Conference on April 12, 2016, in San Francisco. (Karl Mondon/Bay Area News Group)

 

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