Facebook at present focuses on some of the biggest names on the platform to create video shows. Furthermore, it recruits its top publishers for exclusive shows. The social media giant is exploring huge deals with companies to produce original video shows that would provide entertainment to engage more and more people all over the world.
FACEBOOK SIGNS DEALS TO PRODUCE EXCLUSIVE AND ORIGINAL VIDEO SHOWS
Facebook is no doubt a social media giant. It has signed deals with Mashable, Conde Nast and Refinery 29 to produce exclusive and original video shows. The companies join a list, which includes Vox Media, BuzzFeed, Group Nine Media and Attn. Most of these companies already are being paid by Facebook to produce on-demand and live video for the news feed each month. Facebook search now is much easier. This is the social media’s attempt to turn the video tab to a YouTube-like experience. Facebook, since the last part of 2016 has been on the lookout for entertainment content that would engage all the more Facebook friends. It would distribute and fund on a redesigned video tab on its mobile application. FB is looking towards funding shows in two tiers, the original shows, calling it hero units that would be 20 to 30 minute scripted and unscripted shows that FB will fully own as well as spotlight shows that would be shorter, 4 to 10 minute formals but not owned by FB.
Moreover, FB is looking at six broad genres, which include sports, science, pop culture, gaming, lifestyle and teens. Facebook originals budgets are in the $250,000 as per episode, which puts them in the low-end cable TV range. Budgets on the one hand for spotlight shows sit from $10,000 and $40,000 per episode. Most deals of FB for video shows are within the spotlight program. Partner companies sold numerous shows to FB for spotlight that would exclusively remain on the shows for just a period of time. Sources said that spotlight shows are Facebook exclusive for seven day or a week. After this, the content owner is free to distribute it on their own applications and websites. A couple of weeks after the FB premiere, spotlights shows could go to YouTube as well as other platforms. This varies from Facebook originals or the ‘hero’ unites that would be completely owned by FB. Facebook for the originals is in talks with and is purchasing shows from bigger TV networks and production companies and some of the top digital publishers on its platform. The number of FB originals would be lesser compared to the number of spotlight shows.
One integral distinction for spotlight shows is that basically, Facebook is funding the cost to product content. After the social media giant recouped the cost through running mid-rolls during episodes, it would split any additional ad revenue with owners of content. The same as YouTube, FB would take a 45 percent cut. Mark Zuckerberg, Facebook CEO said that FB is willing to fund content today. Its goal is to create an ad program, which could support shows without FB having to fund it upfront. FB originally wanted to release it’s vide shows late of this month and then in June in time for the Cannes Lions Festival. This has been pushed back as the social media giant gets to work in redesigning the video tab and determine how shows would be promoted and distributed. This is a new and big endeavor and FB have been super responsive in terms of pitches and being creative.
The move is not entirely new territory to FB, since it has done deals with media companies providing them income in exchange for using the FB Live video broadcasting platform, for example. Those were aimed in acquiring outlets with audience building exclusive content only for FB, as a way of driving eyeballs towards the new format. Facebook purchasing its own content, from both outset and via licensing could result in a more Amazon or Netflix Prime Video-style outcome, with owned content as the driver for the rest and vice-versa. FB is more inclined to use anything that it produces primarily as a spark for getting third parties to create however.
Creating their own original content library, which include big audience draws such as sports, can help FB chart a better path to monetization for itself and for other partners already using the network to push their videos. Ultimately, this would lead to more video content that in turn will result in stickier, bigger audience and the truly lovely DAUs that Facebook loves so much. This move would also make the social media platform as irrefutably a media company. This is interesting, given the stance on how the FB algorithms handle news distribution at present.
Read More Information: https://digiday.com/media/facebook-recruits-top-video-publishers-shows/