Rumors have surfaced this week that Facebook is gearing up to launch a brand-new video platform, after reports that the social media giant had signed content deals with popular news and entertainment creators.
Vox Media, BuzzFeed, ATTN, and Group Nine Media are some the big name creators Facebook is reportedly engaging to create short and long-form videos for its platform.
YouTube still dominates the video market, with more than 1 billion hours of video watched every day, which is about ten times what Facebook can claim.
According to the sources that leaked the information, Facebook is planning two types of video content.
The first are scripted shows with episodes lasting 20 to 30 minutes, which Facebook will own. The second are shorter scripted and unscripted shows with episodes lasting about 5 to 10 minutes, which Facebook won’t own.
Facebook will pay up to $250,000 for each of the longer scripted episodes.
We’ll be keeping a close eye on this story as it develops, so be sure to watch future episodes of DMW for additional updates...