Just when people think Facebook has reached its limit, the social media giant comes up with another idea that pushes the envelope. Facebook is now venturing into producing TV shows which include drama series and gaming shows. This would probably compete with Amazon Video, Netlfix, and Apple Music. Word is they are also negotiating with Hollywood Studios. What is Mark Zuckerberg up to? Here’s what we know.
On Sunday, The Wall Street Journal reported that Facebook executives have been meeting with talent agencies. They have also been negotiating with Hollywood studios. The report confirms that they plan to launch high-budget scripted TV shows by late summer.
Facebook to produce TV shows, from sports to comedy to reality to gaming
Facebook is starting production for these high-quality TV shows which will be broadcast on its platform, of course. In a report by Business Standard, Vice-President for media partnership Nick Grudin says their goal is to make the social media platform a place where people come together around video. He added that he and their partners would “experiment with the kinds of shows you can build a community around, from sports to comedy to reality to gaming.”
Grudin also said that overtime they want to help more creators make videos “funded through revenue sharing products like Ad Break.” This enables adverts to be included directly into the social media’s online content.
The report stated that Facebook is ready to spend a whopping $3 million per episode. Two shows are already in their list which includes a game show called “Last State Standing” and a relationship drama called, “Strangers.” The report says these shows might be released one by one unlike releasing a whole entire season.
In a CNBC report, Gerber Kawasaki’s Investment Group Leader Ben Dunbar comments on Facebook’s move. While the social media platform plans to spend $3 million, Dunbar said Netflix spends over $6 billion and Amazon spends over $ 4 billion. Meaning this would be
“a tough space to come in at this point and very different from where Facebook has been.”
It was further mentioned that Facebook aims to produce TV shows with content that would avoid politics, news, and nudity.