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07 May 2017, 12:25 | Ricardo Garza
Chief executive 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. Facebook reportedly has had talks with Major League Baseball as well. Facebook has hired Ricky Van Veen, co-founder of CollegeHumor, to handle its original acquisitions.
Business Insiderreports that a virtual reality dating show from Condé Nast is among the shows that Facebook has greenlit. Further, the report notes that the company has plans to premiere the shows in mid-June.
Facebook is also trying to rope in "A-list celebrities" for other shows, and it is rumoured that one big (anonymous) star has already agreed to a deal.
These TV shows are also considered a way to encourage more brands to advertise on the platform than on the traditional television.
Facebook's video project comes amid a tight race between companies such as Amazon, YouTube and Snapchat that are attempting to provide users with high-quality, premium video programming.
In addition, Facebook will focus on teen-centric shows as the company sees rival Snapchat as one of its main competitors in this space. 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. This low-priced show will appear on Facebook app's video tab every 24 hours. The company will initially secure rights for shows and plans to recoup costs later on when it introduces the said type of ads.
But Facebook isn't the only tech organization that wants to provide its audience with premium TV shows.
Sources also said that the caliber of shows pitched to Facebook for its high tier programming are similar to the quality of Netflix's "House of Cards".
"Earlier this year, we started rolling out the Video tab, a dedicated place for video on Facebook". "And then the long-term goal is actually not to be paying for specific content like that, but doing a revenue share model once the whole economy around video on Facebook is built up".
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