Facebook is about to embark on its own original programming, according to rumours
Facebook is preparing to launch a brand-new video platform, sources have claimed.
The hugely-popular social network is believed to be gearing up to launch free-to-watch video content to rival the likes of YouTube and Netflix.
Speaking to “several sources familiar with the situation”, Reuters claims Facebook has already signed-up a slew of content partners that will help it follow the likes of Netflix and Amazon Prime into the realms of original shows.
Facebook is believed to have signed deals with a number of youth-focussed news and entertainment content creators, including Vox Media and BuzzFeed.
Group Nine Media and ATTN have also reportedly signed on the dotted line with Mark Zuckerberg's ubiquitous social network.
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According to the report, the Facebook original shows will be divided into two categories – scripted shows that will run anywhere between 20 and 30 minutes per episode – and shorter, unscripted content.
The latter will clock-in between five and 10 minutes to watch.
Granted, it doesn't sound like Facebook is preparing to launch its own House of Cards or Orange is the New Black just yet.
However the exclusive videos might be enough to tempt some away from their Netflix subscription, which cost customers between £5.99 and £8.99 a month depending on the bundle.
Facebook will not use a subscription fee for its videos, which will be free to watch.
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Facebook will purportedly produce scripted shows that will run between 20 and 30 minutes per episode
Instead, the US social network is expected to use pre- and in-show advertisements to generate revenue for the exclusive content.
Facebook will pay up to $250,000 for each episode of its longer, scripted shows, Reuters has reported.
Meanwhile, it will pay somewhere between $10,000 and $35,000 for its shorter second-tier programming.
That isn't all its content creators stand to earn.
With Facebook set to run ad breaks in both short and long form content, those who create the content will be offered a share of ad revenue.
YouTube employs a similar tactic – offering its content creators a small cut of whatever ad revenue is generated on their videos.
However, the latest report suggests Facebook is set to be more generous with its shares, presumably to tempt creators over to the new, as-yet untested platform.
It’s been claimed that content creators will be given as much as 55 per cent of ad revenues.
Facebook has yet to comment on the claims of its new foray into video content, but the California-based company has repeatedly expressed its desire to move into original video content.
Having confirmed late last year that it would buy-in original programming, the site signed-up former MTV executive Mina Lefevre to spearhead the new platform.
It’s currently unclear exactly when the new Facebook video platform will launch.