NEW YORK – Facebook has inked accords with companies, which are already putting numerous videos on its giant social network, to make shows for an upcoming video service.
According to cnet.com, the company has signed deals with Buzzfeed and Vox in an attempt to swipe the most advertising dollars migrating off television before YouTube and Snapchat, and leaning on video to keep people spending time inside its universe.
The deals also include Attn that focuses on social causes and another company Group Nine Media (known for Thrillist, NowThis and The Dodo) as partners, it reported.
As per the deals, the companies will make scripted shows running about 20 to 30 minutes as well as shorter clips lasting 5 to 10 minutes. Facebook will own the longer episodes but not the shorter clips. All the video will be peppered with ads.
For the longer shows, Facebook will pay the partner company up to $250,000, cnet.com added.