Facebook is already the home for news on friends, family, and that guy you met one time at a bar and still haven't deleted for whatever reason. And now the social networking hub is trying to be something more. Currently, Facebook is pushing further into its video efforts with the goal in mind to be your new TV. While that may be a laughable prospect to some, the company is not fooling around, and has already signed major deals with some big Internet players to try to make it happen.
Facebook has already signed deals with Buzzfeed, Vox, ATTN, and several other outlets that serve millennials, and all involved will start creating content exclusively for Facebook. These shows, which will be completely original programming, will feature both short-form and long-form content that will be peppered with ads throughout. Apparently, the point of the content will be for Facebook to gain even more advertising dollars while putting itself in better position to take on other direct online competitors like YouTube and Snapchat, and perhaps television networks at some point. So how badly is Facebook wanting this thing to succeed?
Enough to be dropping a quarter of a million dollars on content! While that money is perhaps small potatoes for major television productions, as well as Mark Zuckerberg's paycheck, that would pay for some pretty fancy online content. Facebook's contracts for long-form shows, which will be around thirty minutes in length, reportedly hit around $250,000, putting Facebook on the receiving end of all ad revenue. The short-form contracts are much smaller, with Mark Zuckerberg and crew shelling out anywhere from $10,000 to $30,000 for shows with 5-10-minute installments; in those cases, creators will get to keep 55% of the ad revenue from said videos. It'll be interesting to see how this dual-level system plays out.
This isn't Facebook's first foray into the broadcasting game. Earlier this year, the networking site signed on with MLB, as well as eSports organizations, to host live sporting events for the first time ever. Considering its worldwide reach and massive user base, it's not crazy to think Facebook could position itself to be a major player in non-linear television programming sometime down the road. Just how soon will likely depend on each project's success, and if folks will be willing to spend thirty-minute chunks on Facebook watching a show.
We'll let you know if or when Facebook decides to make any other major moves towards the world of television. Until then, check out what all the networks are offering in terms of summer programming on our handy guide. If you've recently finished a show and don't know if it's going to be coming back for another season, we have a list for that as well.