Monday , October 23 2017
Home / Uncategorized / Facebook Paying for Video – Plans to be More Like YouTube than Netflix

Facebook Paying for Video – Plans to be More Like YouTube than Netflix

facetube

Facebook CEO Mark Zuckerberg says, “We’re focusing more on shorter form content to start.” He gave this answer when asked about the video strategy of the social networking website. It was clear from his words that Facebook is ready to invest heavily in this venture, “I see video as a mega trend,” added Zuckerberg.

Facebook will be paying the video makers both up front and by giving them a portion of the revenue from advertisements. Reports say that Facebook is currently ready to dive into TV ventures by coming up with a TV set-top box and funding tons of TV shows and movies. Zuckerberg, on the other hand, had something else to say, “Over the longer term…people will experiment with longer forms of video as well as all kinds of different things.” This clearly meant that he has no such plans in near future and wants to focus on quick, snackable clips for now.

Facebook is more interested in collecting short video clips just like YouTube instead of investing in movies or TV shows like Netflix.

In the words of Facebook’s CFO David Wehner, “Our focus was on kick-starting the ecosystem here for the video tab…We’re looking at a wide range of content.” The idea is to establish Facebook as an entity of premium clips and not let people move to other platforms for watching quick video content. The strategy will be similar to the one which was used when Facebook Live was launched as it was able to garner significant interest from the audiences. “We’re certainly going to be seeding content to get the ecosystem going. That’s not about doing big deals,” he added.

“We Need to be able to support that with a business model that we’re working on with ads,” said Wehner which clearly shows that they need enough ad revenue which can be shared with the video makers. This is the only way they’ll keep providing quality content to the social media platform.

The new video tab which has been rolled out to everyone in the USA will change the video viewing habits of the Facebook users. Zuckerberg says, “Say I want to watch video content now…That’s what I think we’re going to unlock with this tab. The early trends are good.”

He further went to say that these video tabs would open a way for episodic content which is relatively longer. With this, he was referring to the YouTube weekly shows rather than the TV shows. He wants to allow another platform to those video bloggers so that people can easily catch up on their latest clips.

The CEO of the most famous social media platform has called video a “megatrend” and he has a strong reason for doing so. Bigger screens, better mobile cameras, faster connections, and short-form video content has made it easier for the viewers to watch videos while being on the go.

In the era where mobile phones are slowly replacing our televisions as well, Facebook and Instagram are all set to cement themselves as stronger video viewing and video sharing platforms.

image source

  • facetube: google

About Palwasha Qasim

Palwasha Qasim is a graduate of the University of the Punjab in communication studies and an alum of the Global UGRAD Pakistan. She loves to write about technology news.