Facebook Expands its Video Offerings to Tap into Lucrative Television Market
Social networking giant, Facebook Inc on August 9, 2017, took the most compelling step to participate in the television market and compete with advertising. The company expanded its video offerings with explicit programming that ranges from experienced and professional women’s basketball to a parenting program and a safaris show. This will be a redesigned product and will be known as “Watch”. The product will primarily be accessible via Facebook’s mobile application, television, and website application. Initially, it will be available to a restricted group of people in the U.S., said the company.
The largest social networking website in the world incorporated a video tag in its website design last year, and it has been constantly dropping hints since several months about the desire to become a reliable source of well-produced and original videos, rather than merely shows and videos created by its users. Reports from May state that Facebook Inc had signed several deals with millennial-centric entertainment and news creators ATTN, BuzzFeed, Group Nine Media, Vox Media, as well as other companies to generate shows, both unscripted and scripted.
Facebook’s Product Director, Daniel Danker, mentioned in a declaration on Wednesday that, “we have noticed and realized that users like the serendipity of finding videos in their News Feed, but they are also keen to have a dedicated place where they can to specifically to watch videos.” Mark Zuckerberg, the Chief Executive of Facebook mentioned in his Facebook post that “Watch” will enable users to connect and chat with people while watching an episode. It will also allow the users to join groups having people who like the same episode and build a community later on.
The company said that the show will comprise of videos focusing on subjects such as the Women’s National Basketball Association, a safari show from National Geographic, as well as a parenting show from Time Inc. Facebook has already started to broadcast some engaging Major League Baseball Games and the process is going to continue in the future, the company affirmed.
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