Facebook’s next target: video
Facebook’s got a new (well, kind of new) target in its sights: video creators. Okay, it’s not that new. The company’s hosted videos for a while and been looking to monetize them more fully for years – but given the furore of the last 12 months, those plans were left to dangle while Facebook fought fires over fake news and political advertising. Now, looking back towards growth, the company knows what it needs: more top-class content creators. And it’s going looking for them at VidCon London. Watch out, YouTube – Facebook’s in your hunting ground!
Facebook’s share price has appreciated by 24% year to date
Source: Yahoo Finance
Leading the charge to get video-makers using Watch (Facebook’s dedicated video platform) is Jay Shetty. Shetty, a self-help guru with more-than 20 million Facebook followers, says he has made $1 million over the last 12 months on Facebook’s platform. That’s the kind of money people find it hard to ignore. He told journalists “people are seeking guidance and advice and positive, uplifting messages.” He added that “came to the party late in terms of being a creator,” and found success on Facebook because he was already established there.
He said: “Facebook is going through a growth phase. They’re recognising the importance of creators and helping them grow. I lucked out with great timing.” Shetty will be giving the keynote speech this year, aiming to entice creators from all over the web onto Facebook Watch. The company will monetise this platform through Ad Breaks, and to be eligible, your video has to be three minutes long, published to a page with at least 10,000 followers, and must have had a minimum of 30,000 one-minute views over a 60-day period.
Patrick Walker, Facebook’s director of media partnerships for Europe, the Middle East, and Africa describes Facebook Watch as a “social platform like no other.” He says that the company isn’t trying to poach talent from YouTube or anywhere else, but does want to make it possible for people to earn enough from their videos that they can give up the day job. Walker, who has previously worked at the BBC and YouTube, added: “Watch in itself has given us an exciting opportunity to reintroduce ourselves to creators and media partners. We have monetisation options, which completely changes the game.”
Dominion holds Facebook in its Global Trends Ecommerce Fund.
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