Facebook to Compete with Netflix in the Streaming Market
Considering how there is a big market in line for TV series, it should not be unexpected that companies would want to create and produce their own. Recent reports have revealed that social media giant Facebook is looking to create its own TV-style programming in accordance to its mission of making the site an all-encompassing avenue.
According to reports, Facebook president Mark Zuckerberg has gotten over the hurdles that prevented him from making a move on their mission. He is now exploring the streaming market, and to lure in investors and producers, he is reportedly spreading the word that his company is willing to spend up to $3 million per episode. In doing so, it is his hope that Facebook will become a site where nobody has to leave in order to watch their TV shows.
"We're supporting a small group of partners and creators as they experiment with the kinds of shows you can build a community around — from sports to comedy to reality to gaming," vice president of Media Partnerships Nick Grudin revealed. "We're focused on episodic shows and helping all our partners understand what works across different verticals and topics."
Considering that millennials are more likely to be using Facebook, it seems the social media giant is targeting them as the prime market for its upcoming TV series. Reports also indicate that instead of giving its users a reason to binge-watch on Facebook, it will instead take the traditional route of releasing one episode at a time.
No titles have been revealed as of yet, but Facebook is in the early stages of finding solid ground in the streaming market. This means that they may not be the ones creating the TV series until such time that they have been established as a streaming service. Given the fact that it is facing huge competitors like Netflix, it might take a long time before Facebook can actually claim that it has created, produced, and aired its own TV series.
