Facebook is entering the battle for your by introducing a new product called “Watch”. “Watch” is Facebook’s redesigned video platform which will start rolling out a small percentage of users starting today.
Watch will feature original programming which has been financed by Facebook as well as feature videos from content creators.
The new Watch feature will replace the current video tab for users in all of Facebook’s apps including Android, iOS, the Web, and Television.
Organisation and Content
Watch will be personalized to help users discover new shows and be organized around what your friends and communities are watching.
There will be sections like “Most Talked About,” which highlights shows that spark conversation, “What’s Making People Laugh,” which includes shows where many people have used the “Haha” reaction, and “What Friends Are Watching,” which helps users connect with friends about shows they too following.
Some of the shows available will include Kitchen Little, a funny show about kids who watch a how-to video of a recipe, then instruct professional chefs on how to make it. Other shows include Gabby Bernstein, a New York Times bestselling author, motivational speaker, and life coach, who uses a combination of recorded and live episodes to connect with her fans and answer questions in real time as well as Major League Baseball programming.
New Revenue Stream
If Facebook succeeds in its video venture, it could lead to new opportunities for increased revenue for the company especially if they manage to incorporate advertising into the mix. The new Watch feature could put Facebook in direct competition with the likes of YouTube.
At the moment, Facebook will be sending invites to publishers to upload content but over time, it will allow anyone to publish to the Watch feed.
This could be potential big for Facebook. The company has 2 billion users on its platform and already has the numbers that video consumption is high amongst users. Many publishers and entertainment companies have signaled interest and it only makes sense since most people are going towards online video and streaming for their content.
But the competition won’t make it easy. The likes of YouTube, Netflix, and Amazon are making huge strides in original content. Now that Disney has signaled that it wants to jump into the streaming game, Facebooks looks to face an uphill battle.
But Facebook shouldn’t be underestimated. How would have figured that this platform would have over a billion users and be crushing their earnings report. With Instagram, they are currently crushing Snapchat with Instagram Stories.
With this jump into original content, expect Facebook to put up a good fight.
Source: Facebook Newsroom