Facebook will spend as much as $1 billion on original TV in the next year
Publishing timestamp: 2017-09-08 13:51:01
Summary
Facebook is revamping its video tab Watch and is willing to spend up to $1 billion on original video content. This investment is still less than what its digital competitors like Netflix and Amazon spend. Facebook is also partnering with media brands and offering revenue sharing opportunities for creators. The goal is to make TV a social experience on the platform. Apple is also planning to spend $1 billion on original content, while Zelle, a payment network backed by major US banks, is launching a standalone app.
Sentiment: NEUTRAL
Keywords: netflix inc, amazon.com inc, social media, meta platforms inc, technology, mobile, business news,