Facebook will soon start production of high-quality television
series and gaming shows to be broadcast on its platform, one of the social
media giant’s executives said on Monday.
The online platform, which has around two billion monthly users
worldwide, is working on the project with a small group of partners and hopes
to start putting out episodes of its forthcoming series by the end of the
summer.
Nick Grudin, the vice president for media partnerships revealed
this, confirming a report in the Wall Street Journal.
“Our goal is to make Facebook a place where people can come
together around video,” Grudin said, noting that Facebook and its collaborators
would “experiment with the kinds of shows you can build a community around —
from sports to comedy to reality to gaming.”
Facebook is funding the shows on its own at first, he said, “but
over time we want to help lots of creators make videos funded through revenue
sharing products like Ad Break,” a software tool that allows adverts to be
directly inserted into Facebook’s online content.
Facebook did not identify its content-production partners, but the
Wall Street Journal said they include Hollywood studios and agencies
representing actors and other creative talent from the film and television
industries.
Facebook is ready to spend up to $3 million per episode, a budget
which puts it at the upscale end of television production in the United States.
In doing so, it is a following a trend set by other internet giants that were
once satisfied with allowing their platforms to be used for distribution by
other producers.
Netflix, Amazon and the online television platform Hulu — a joint
venture by Disney, Comcast, 21st Century and Time Warner — have thrown
themselves into content production, as have YouTube and Apple, although on a
more modest scale.
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