Facebook is willing to pay $1 billion to its original TV and $3 million per episode for centerpiece shows.
At the time, VP of media partnerships Nick Grudin told The Verge in an email, “We’re funding these shows directly now, but over time we want to help lots of creators make videos funded through revenue sharing products like Ad Break.”
Although Facebook will be spending $1 billion, it’s still a fraction of Netflix and Amazon which spend $6 billion and $4.5 billion respectively.
It is reportedly being said that last year Facebook spent $50 billion to pay celebrities and other renown brands for its live-streamed videos which turned out to be a huge success for them and it also claims that one in five videos on Facebook is now live-streamed.
Later in May, Facebook joined hands with some media brands like Vox Media and BuzzFeed and decided to pay up to $35,000 for 5-10 minute videos to the companies that would make the content and Facebook would get the 45% cut of the ad revenue from.
The same week it unveiled its plan for streaming one Major League Baseball game per month. And now this week, it is being said that the company is offering “hundreds of millions” to music publishers to make as much music content for Facebook as possible.
Facebook is doing all of this just to make its Watch section as popular as never before. Product management leader Daniel Danker said last month, “You discover videos through your friends. You often find yourself discussing videos with friends. Video has this amazing power to bring people together and build community.”
This news appeared as soon as Apple unveiled its plan for spending $1 billion on its original content in the coming year.