Facebook has signed a slew of deals with several popular media platforms. The aim of these deals is to ensure that there is plenty of content available for the company’s upcoming video service. Brands that have signed up with Facebook include names like Vox Media, BuzzFeed, ATTN, Group Nine Media.
So Facebook has a video service rolling out shortly As expected, the company needs content for the platform, good and solid content that can keep users engaged. While a lot of content is produced and consumed on the social networking platform by its users everyday, the company is now aiming for some original programming as well, and hence these deals.
Facebook is now planning two different tiers of video entertainment. While one of these tier will consist of scripted episodes that last between 20 to 30 minutes, and where the content will be owned by Facebook — the other tier will have shorter videos and the content here, will not be owned by the social networking platform.
Original content if its good, means significantly more engagements that by extension, more advertising dollars. Facebook is not the only company to have come to this conclusion and it will be pitting itself up against original content from the likes of YouTube Red, Snapchat’s Discover, Netflix, and a whole lot of other platforms toying with the idea of creating an pushing original content.
Even if Facebook does not originally own the content it will broadcast, it could eventually end up acquiring some of it. The company will have no qualms in paying out money to acquire part ownership in the content being broadcasted. This again, is something that Amazon and Netflix have been doing of late.
With these new deals, Facebook has taken up a slew of platforms that are known for catering to the millennial. Assuming that the collaborations results in good content, the company could well hook a significant audience to its service and its platform by combining its own massive reach with that of the platforms it is signing up with these deals.