The top stories in social media last week.
Facebook has been the leader in social media for over a decade and continues to support its message of connecting the world. The social media giant has recently added another item to its already impressive resume, providing TV shows. This idea comes after founder Mark Zuckerberg's mission to better connect the world using his platform.
Facebook informed the public earlier this year about the television idea highlighting shows to be short 5-10 minutes videos to further their reach of the 13-34 target market, more specifically those in the 17-30 group within their 2 billion active users.
The videos would be more aimed at internet competitor YouTube and less at mega online providers, Netflix and HBO, as many were speculating back in March of this year. The company will be expected to gain millions in revenue and further it's disruption of the $70 billion television advertising industry. However, the social media outlet is expected to be funding many of the original videos that will be posted in it's initial roll out and are willing to provide up to $3 million per episode! For the future, however, they are aiming to receive the funding and support from media companies whom sponsor the video content for 45% of the potential profits from the content.
Unlike Netflix, Facebook will be airing episodes per week in a more traditional approach versus Netflix's entire season drops, so no more binge watching and much more anticipation! The expected release of the original roll out of Facebook TV is scheduled for mid-August but has been speculaed to potentially be delayed depending on the content creation.
Story by: Reshma Brahmbhatt
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