Facebook has launched a video streaming feature to expand its presence across all social media. It launched its native Facebook Watch feature in all countries, early this week. Previously, it was only available in the United States. This feature allows users to view exclusive content from select publishers and channels.
Facebook, one of the world’s foremost social media platform, started way before Twitter, Snapchat, Netflix, and YouTube, and has constantly made changes to it’s interactive and intuitive platform that allowed users to chat with friends, post pictures, read the news, and follow their favorite celebrities.
It has been expanding its social media presence by acquiring messaging app Whatsapp and photo and video sharing Instagram to become a dominant player in the tech industry.
Facebook has made a deal with content creators to produce exclusive content on politics, entertainment, comedy, and science and tech among others with 55% of revenues generated from ads going to the content creators.
Reports suggest that the new service has been very successful so far. Every month, about 50 million people use the service for a minimum of 1 minute to get news updates. Facebook has already produced several critically acclaimed TV shows, some of which have won Emmy awards as well.
It’s highly anticipated dark comedy show called ‘Sorry for your Loss’, starring the Avengers: Infinity War actress Elizabeth Olsen will premiere on September 18. With some big actors starting to work with FB, owners are confident that the number of users will gradually increase overtime.
Morgan Stanley analysts estimate that “Facebook Watch” could potentially earn $565 million by the end of 2018.
This new service is surely going to be a notable and worthy competitor to other video viewing platforms like YouTube, Netflix, Amazon Prime and Hulu.
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