The world's largest social media company has signed deals with major millennial-focused news and entertainment outlets to create original content to tap new audiences and bring in ad revenue, sources tell Reuters. Gavino Garay reports.
You may one day be watching your favorite original shows on Facebook... Sources telling Reuters the social media giant has teamed up with Vox Media, BuzzFeed and others to bring users a video service with entertainment and news. The original videos will come in the form of episodes lasting 20 to 30 minutes, and shorter 5 to 10 minute shows. The move is part of a push to bring in new ad revenue and is expected to put the company in head-to-head competition with YouTube Red, Snapchat's Discover feature and traditional TV. CEO Mark Zuckerberg told investors earlier this month the company is looking for so-called "anchor content" to draw users to its video tab. The model is taking a page from the successes of Netflix and Amazon in selling some of their own original content. A costly endeavor.. Facebook is set to pay up to a quarter of a million dollars longer, scripted shows, which it will own.