Facebook Inc. is making moves to enter the TV industry… kind of. The company is looking to increase its video offerings, so that it can compete with the television market. Its content will range from sporting events to nature specials and parenting programs.
The product will be called ‘Watch’ and its initial release will only be available to a limited group of people within the United States. Viewers will gain access through Facebook’s mobile app, television app, and website.
Facebook has been hinting at this big video venture for some time. Back in May, Facebook signed deals with news and entertainment sources that are geared towards millennials, including Vox, BuzzFeed, ATTN, and Group Nine Media. Facebook wants to be a source for “original and well produced videos, rather than just shows made by users,” reported Reuters.
Back in June, Fox Business reported that Facebook had met with major talent agencies such as “Creative Artists Agency, United Talent Agency, William Morris Endeavor and International Creative Management Partners” and that “Facebook has indicated it is willing to commit to production budgets as high as $3 million per episode…”
These agencies have said that “Facebook is also interested in more moderate-cost scripted shows in the mid-to-high six-figure-per-episode range…”
Fox Business calls this a “two track effort” for Facebook. They want to increase their competitiveness as well as target the tens of billions of dollars that are spent on television ads.
“We’ve learned that people like the serendipity of discovering videos in News Feed, but also want a dedicated place they can go to watch videos,” Facebook product director, Daniel Danker, said in a statement on August 9th.
Mark Zuckerberg, Facebook’s Chief Executive who turned heads when he said Facebook serves the same function as a church or little league, believes that Facebook can create an online community of TV watchers. Zuckerberg said that the watch feature would allow viewers to chat and connect during an episode as well as join groups with those who like the same shows and thereby build community.
There is already a diverse lineup of shows ready for release including videos from Women’s National Basketball Association, Time Warner Inc. and National Geographic. The lineup also includes two original shows from ATTN, a health program with Jessica Alba, and a relationship advice show.
It will be interesting, however, to see if Facebook dives into news or politics. Last year, Facebook was immersed in controversy when “the tech news site Gizmodo, cited an unnamed former Facebook employee, that alleged conservative news sources had been regularly demoted while liberal sources had been promoted in the “Trending Topics” section. More recently, they launched an effort to limit “ low quality content such as clickbait, sensationalism, and misinformation.”
Facebook is entering a competitive market with the creation of Watch. Not only are they up against traditional television networks, but they’ll also be competing with the likes of YouTube, Snapchat, and Twitter.
