Facebook has responded to the surging video streaming mania with its very own Facebook Watch. Launched in August 2017, this relatively new platform is currently gaining popularity with entertainment, publishing, and TV firms.
Entertainment firms of different kinds will always take interest on Facebook for as long as the social media juggernaut is financing its original programming. They will always find Facebook too massive to ignore.
Video monetization is what these entertainment companies are obviously after. Hence, they possess infinite patience. Vikki Neil of Digital Lifestyle Studies for Discovery, Inc. affirmed that they are interested on Facebook Watch’s journey on presenting longer-form programs and understanding the consumers better.
Indigenous Media’s chief operating officer, Jake Avnet, praised Facebook Watch for being an engaging cross-breed of Internet TV and social media. He agreed that Facebook is too massive to disregard given that it is the largest social media platform providing the enormous opportunity to create content that millions of people will take interest in.
Facebook Watch programs are reported to be different from what viewers would regularly see on Netflix or traditional TV. For instance, scripted drama “Five Points,” which deals with high school life in Chicago’s South Side, appears like a typical drama aired on cable TV.
However, its producers are also adding an interactive portion to the show, which is the primary feature of Facebook Watch. A Facebook group is now live where viewers can discuss “Five Points,” especially its relevance.
Facebook is interested to acquire fresh video series, which contain a community or an interactive dimension. Chief of planning and content strategy, Matthew Henick, confirmed this development at a TV interview in Cannes, France.
He said that the social media giant is exploring “social entertainment” designed especially for audience who use their smartphones to watch shows. He mentioned that the style of these kinds of programs would most probably be unscripted.
However, Henick also added that Facebook welcomes scripted shows like “Five Points” and “Skam Austin” which involves imaginary characters using social media. Facebook Watch will also air a number of classic and scripted series starring Hollywood A-listers like Elizabeth Olsen and Catherine Zeta-Jones.
Video streaming giants like Apple, Netflix, and Hulu are reported to be spending more on entertainment shows than Facebook. The social media video streaming platform is interested to pour its six-figure allocated funds to longer shows, but that is only for the meantime.
Since Facebook Watch is new, the management is having a hard time to persuade its users to use this platform. Yet, Facebook Watch’s producers are not worried about the quantity of viewership given that the fledgling streaming platform was just launched in the recent months.
Aside from the community experience which facilitates higher engagement by consumers to programs and products, Facebook Watch also promotes a substantial amount of creative freedom. Plus, it serves as a powerful advertising vehicle, making this video streaming platform inevitably enticing for giant media firms.