Facebook to invest $1 billion in original TV content

The figure, which could fluctuate based on the success of Facebook’s’ programming, covers potential spending through 2018. The figure is less than what rivals have invested in the segment. Netflix spent $6 billion in 2017 and Amazon shelled out $4.5 billion. 

The company has improved its strategy for video content, including cutting deals for digital TV shows. Earlier this month, Facebook rolled out a redesigned video platform for creators and publishers called Watch in the United States.

Facebook is offering a range of different options for discovering video content, including programmes and sections like Today’s Spotlight, New This Week, Popular Now, What Friends Are Watching, Most Talked About, Suggested For You, and a special 10 Minutes Or More spot for long-form videos. 

For now, Facebook is primarily highlighting reality shows, which partners are producing en masse since they are cheap, don’t require set scripts and can be watched piecemeal, the report said. 

The social media giant debuted with lifestyle shows — The Great Cheese Hunt and It’s Cool, But Does It Really Work? News and issues publisher Attn premiered We Need to Talk and Health Hacks starring Jessica Alba last week. Meanwhile, food video giant Tastemade debuted with four shows, including Safe Deposit, Struggle Meals, Food to Die For and Kitchen Little.