Facebook has increasingly been focusing on its video initiatives since the last year or so. A report from earlier this year claimed that the company was working on almost two dozen TV shows with a huge budget.
Now, Bloomberg reports that Facebook will be releasing a TV-focused update to its platform in mid-August. For this, the company has already asked its partners to finish the pilot episodes for their spotlight shows that will be around 10 minutes or shorter in length. The company’s more expensive TV-style shows will be released later this year.
The mid-August date can still be delayed just like the original plan which was supposed to be rolled out almost a month ago.
With its new video section, Facebook wants to one-up Google’s YouTube in the video department though it has no intentions of taking on the likes of Netflix, Amazon Prime Video, or HBO.
The new video section will offer the social network’s more than 2 billion users a mix of scripted and user-generated content. Facebook aims to make something higher-end than Google’s YouTube, but it’s not competing with video producers such as Netflix, HBO and Showtime.
All the short-form videos, as well as the higher-end series, are being completely produced by Facebook. The former will have a runtime of 5-10 minutes while the latter will have a runtime similar to most TV shows. The social network giant has also hired many former TV and media executives to help oversee its efforts. Despite its efforts, Facebook’s funding plans for these TV shows are short term in nature.
Facebook aims to capture the attention of the millennials with its TV content onslaught. A previous report claimed that the first TV show from Facebook will be about young people dating in virtual reality before meeting each other in real life.
[Via Bloomberg]Like this post? Share it!