Facebook to spend around $1 Billion on original TV content to become a big hub for Videos. The report says social media giant is willing to spend as much as $1 billion(Facebook To Spend $1 Billion) to cultivate original shows for its platform.
What we covered?
Facebook Spend $1 Million
The figure is less than what the company’s digital rivals such as Netflix invested. Netflix spent $6 billion in 2017 and Amazon shelled out $4.5 billion.The figure is less than what the company’s digital rivals such as Netflix invested. Netflix spent $6 billion in 2017 and Amazon shelled out $4.5 billion.
Facebook is primarily highlighting reality shows, which partners are producing en masse since they are cheap, don’t require set scripts and can be watched piecemeal, the report said.The social media giant debuted with Business Insider’s lifestyle shows — “The Great Cheese Hunt” and “It’s Cool, But Does It Really Work?”.
Earlier this month, the Wall Street Journal also reported that Apple has earmarked $1 billion in spending on original entertainment over the next year. So perhaps the main takeaway here is that Facebook chief Mark Zuckerberg simply wants the market knows he’s willing to play in the same league as Apple, the world’s biggest tech company.Facebook will actually shell out hundreds of millions for shows it pushes into Watch its new video aggregation guide, is another question.
