Facebook TV – coming next month?
Facebook has been hoping to pioneer its own version of TV for some time, but suffered a number of setbacks and false starts. According to a number of anonymous sources, those might now be behind the Silicon Valley heavyweight, and the first episodes of the company’s new service may be ready to go online mid-August.
Facebook’s share price has risen by 44% so far this year
SOURCE: Yahoo Finance
Facebook originally hoped that its TV project would be ready to go a month ago, but people close to the matter say that it suffered a number of delays – and that they are not, necessarily, over. Nonetheless, the social media kingpin has been asking its partners to turn in the first episodes of their shows, with some having already done so. These initial shows are described as “short-form, inexpensive programs”. Later, the company will launch “higher-end TV-style shows”, according to the same people.
Facebook TV is designed to capture a bigger cut of the $70 billion TV advertising market. The original programs that are being created are alleged to sit outside of users’ newsfeeds, and offer them a mix of scripted and on-the-fly content. Describing the company’s business goals, Lucas Shaw and Sarah Frier at Bloomberg said: “Facebook aims to make something higher-end than Google’s YouTube, but it’s not competing with video producers such as Netflix, HBO and Showtime.”
Dominion holds Facebook in its Global Trends Ecommerce Fund.
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