Facebook is officially starting production on on gaming shows and high quality TV shows to be broadcast on its platform, one of the social media giant’s executives as announced on Monday in a statement by Nick Grudin, Vice President of Media Partnerships for Facebook.
The online platform, which currently is the most used Social Media platform with over two billion monthly users worldwide, is working on the project with a small group of partners and hopes to start putting out episodes of its forthcoming series by the end of the summer, as stated by Mr Grudin.
“Our goal is to make Facebook a place where people can come together around video,” Grudin said, noting that Facebook and its collaborators would “experiment with the kinds of shows you can build a community around — from reality to gaming and sports to comedy.”
Facebook is originally going to be funding its own shows but hoping to be able to attract many creators to make videos funded through revenue sharing products like Ad Break, a software tool that allows adverts to be directly inserted into Facebook’s online content. Even though their content-production partners were not announced, the Wall Street Journal mentioned they include many well knows brands such as Hollywood studios and agencies representing actors and other creative talent from the film and television industries.
As Facebook CEO Mark Zuckerberg noted, “We believe it’s possible to rethink a lot of experiences through the lens of building community — including watching video. Watching a show doesn’t have to be passive . . . You’ll be able to chat and connect with people during an episode, and join groups with people who like the same shows afterwards to build community.”
Facebook is ready to spend up to $3 million per episode, a budget which puts it at the upscale end of television production in the United States. In doing so, it is a following a trend set by other internet giants that were once satisfied with allowing their platforms to be used for distribution by other producers.
Summarising, with the likes of Amazon, Hulu and Netflix and the online television platform Hulu all actively immersed into content production, as well as Apple and Youtube on a smaller scale, the video and TV industry is set for a total revolution in the next coming years with the constant constant technological disruption create new stream revenues for large “players” that may not have been active previously in the industry.
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