Facebook to launch its own TV shows

It has been reportedly said that the largest social network Facebook will launch its own version of television by next month.

Named as ‘Facebook TV’, people familiar with the matter said that the firm has already been asking its partners to submit their first episodes of the major shows. It’s said that the organization has partnered with different content firms such as Group Nine Media, ATN, Vox Media and BuzzFeed. Few partners have already completed the inexpensive, short-form programs. Sources that wished to remain anonymous informed that the company is also funding higher-end TV-style shows which are expected to launch later on and is also hiring veteran executives from media industry for help, reported Bloomberg.

The project was supposed to launch back in June, but it took longer than that and could probably be delayed further. The original programs would be shown on a new video section, outside of the user’s news feed. The video tag is likely to profit Facebook a huge cut of the $70 billion television advertising market.

According to Tech Juice, Facebook will receive 45% revenue from these shows whereas, the media outlets are supposed to receive 55%. Initially the shows will be of 10-15 minutes duration, but Facebook plans on increasing the time limit to 30 minutes in near future.

The section will provide users with a blend of user-generated and scripted content. Aiming to make higher-end content than Google, Facebook yet not aims to compete with giant video producers like HBO, Netflix and Showtime.

However, a Facebook spokeswoman refused to comment about the situation.