Facebook has this week indicated that it plans to start buying and producing it’s own video content to stream through it’s video platform. Instead of continuing in the tradition of social network companies and relying on others to produce content, Facebook will explore airing original content.
The social media giant is considering buying and producing its own video programming, which would include scripted shows, game shows, and sports events. Although Facebook has tried to host original video content before, this would be the first time Facebook has considered paying for it’s own content. This represents a foray into the domain of the traditional media, a classification which Facebook has long denied.
Facebook has always claimed to be a tech company instead of a media company, yet the company is looking to expand their reach. The move seems to have been encouraged by Ricky Van Veen, the co-founder of College Humor, who joined Facebook this year.
“Our goal is to show people what is possible on the platform and learn as we continue to work with video partners around the world,” he said.
Having original content would help Facebook become a more popular destination for video viewing, instead of a pathway to other sites. This would potentially result in better revenue, both for the site and its advertisers. The original programs would also allow Facebook to more effectively compete with its competitors (including Snapchat, Instagram and YouTube) which have been augmenting their original programming and their audiences. It also puts Facebook in direct competition with video streaming giant Netflix, which is famous for it’s strong and popular original programming.
However, a representative for Facebook says that the company is still only in the planning stage of the update, having just started talks with possible collaborators.