Facebook plans to premiere in mid-June its first slate of TV-like shows, reported Business Insider, citing people familiar with the plans.
The social network is developing around two dozen television shows and has greenlit multiple shows for production. According to the report, Facebook looks for shows in two different tiers: a marquee tier for a few longer, big-budget shows, and a lower tier for shorter, less expensive shows of about five to 10 minutes.
Facebook has already stated its intention to advance in the video market, which will allow it to further increase its advertising revenue.
Recently, YouTube announced a similar project with ad-supported TV shows and featuring Hollywood celebrities like Ellen DeGeneres and Katy Perry. In turn, a few days ago, Twitter announced several deals to offer 24-hour live content.
At the end of Q117, Facebook reported 1.94 billion monthly users. The company’s revenue reached 8.03 billion, up 49% compared to previous year, of which USD 7.86 billion were advertising revenue. Mobile ad revenue represented about 85% of total ad sales, up from 82% in the same period a year earlier.