Facebook Watch is a video-on-demand service operated by Facebook, announced on August 9, 2017. This service is used by 400 million people. Keeping in view the ever increasing users, the social media giant has decided to expand its service keeping in view all ages of audience. In order to do so, it is rolling out watch services to desktop, main app and Facebook Lite globally. Initially, it was launched in five countries but now Facebook Watch will be expanded to 40 more countries. This move has come when the Facebook slashed funding of its original shows which were made in partnership with CNN, Buzzfeed and ABC News.
Facebook Watch: 400 mn people use the service monthly
Facebook watch facilitates users to watch different kinds of videos, including entertainment, sports and news. Initially, Facebook will pay content creators for shows to drive interest. Shorter-form shows will be paid between $10,000 to $35,000 and longer shows could make up to $250,000.
55 per cent of ad revenue will be earned by Content partners and the reminders will be taken by Facebook. According to Dan Rose, vice president of partnerships at Facebook that now the company is testing how ads will work within the shows. The tech giant will open the platform to everyone to submit shows. However, the company does not want to make content buying a part of its core strategy.
Facebook had spent a lot of time in developing tools. The company wants to help the creators of videos in integrating ads themselves. Monetization will definitely help in creation.