With audiences for 'traditional' linear TV services in decline, streaming services like Netflix and Hulu have successfully attracted viewers with their on-demand offerings, and a wide variety of content for people to choose from. Social media services are also keen to get in on the action, since the largest platforms already have captive audiences numbering in the hundreds of millions, who can easily be targeted with video content.
Facebook is preparing to bring original programming to its vast user base, and it seems the social network is throwing down some big bucks to make it happen. According to The Wall Street Journal, Facebook is offering studios and agencies up to $3 million per episode for the rights to bring their shows to its users.
It's said to be targeting audiences aged 13-34 with its video offerings, with a particular focus on those aged between 17 and 30. According to a report from Business Insider in May, the company aims to offer a wide range of video content, including both scripted and unscripted shows, premium programming, and a selection of cheaper productions, in addition to live sports. Most of these shows are expected to have durations between 10 and 30 minutes.
Facebook is reportedly planning to launch its new original programming later this summer. Social media rival Snapchat is also boosting its video content offering with new shows on the way from A&E, Disney, MGM, MTV, and Time Warner, but those shows will have a different format, with episodes between 3 and 5 minutes in length.