Facebook is reportedly going to start showing original television-style shows and unique programming on its website.
Facebook considers scripted video in high-quality programming as a vital tool that can help in retaining users.
And while Snapchat is still far behind Facebook in user count, Zuckerberg worries that his company is behind the times when it comes to innovation and attracting younger eyeballs. Most, if not all of these shows will be found in a "video" tab on Facebook for users to watch as they please.
The biggest problem that Facebook is facing right now is trying to figure out if and how these new TV shows will bring in an audience. It's a dating show where people will meet in virtual reality before meeting in real life. Reports also indicate that there are some big name Hollywood celebrities already on board with the project. Business Insider mentions that his small team has been making rounds of production houses to pitch their 5-30 minute long-form content ideas. Another said Facebook had initially planned to unveil its shows around its developer conference in mid-April, but decided to instead make the debut in time for the Cannes Lions advertising festival, which starts on June 17. For now, the company is directly licensing some shows, but it wants to eventually wants to rely exclusively on ad revenue-sharing deals with content creators. And with significantly more content coming to subscription services, that shift is accelerating. The social network has been testing the ads for months with a handful of publishers in live and recorded videos, but hasn't made the format widely available. "Facebook hasn't figured it out", one partner said.
Back in December, rumours started flying that Facebook was looking to follow Amazon, Hulu, and Netflix into the original content game.
CEO Mark Zuckerberg, in company's Q1 earnings call, said that he has been doubling down on investment in video, predicting that the news feed will eventually be mostly video.