17:30 27 June 2017
After reluctantly admitting that it is indeed a media company last December, Facebook is said to be betting big on fresh shows targeted at audiences aged 17-30. According to reports, the social media giant has plans to allocate up to $3million per 30-minute episode to producers in Hollywood.
Reports also say that Facebook has already lined up a relationship drama called Strangers, a comedy series starring Nicole Byer called Loosely Exactly Nicole, and a game show produced by the American Ninja Warrior folks.
In a statement, Vice President of Media Partnerships Nick Grudin said: We’re supporting a small group of partners and creators as they experiment with the kinds of shows you can build a community around—from sports to comedy to reality to gaming. We’re focused on episodic shows and helping all our partners understand what works across different verticals and topics.
This move gives YouTube, Netflix and Hulu a formidable rival, which already has two billion users worldwide.
Twitter, on the other hand, is focusing on live coverage, news, sports and fashion shows. Last month, it announced a dozen of new deals to bring streaming video from partners like MLB, NBA, The Verge, Bloomberg and IMG to its platform.
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