Facebook to Spend Up to US$ 1 Billion in Originals

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by @todotvnews the 11/09/2017
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The social media giant announced plans to invest as much as 1 billion dollars in original TV productions for its new video platform, Watch, which launched just one month ago and has already expanded across the US.

For months now, Facebook has made its plans to focus its efforts on video initiatives very clear, first announcing it was developing its own original productions back in May, with intentions to spend up to US$ 250,000 per episode of original scripted programming, a number that grew to US$ 3 million in June.
 
In July, Bloomberg reported the social media giant's first titles would make their debut in August, an announcement that finally materialized with Facebook's launch of its Watch tab on August 10.
 
Facebook's exclusive new video tab, featuring original productions from partners such as BuzzFeed, Tastemade, ATTN and Condé Nast, as well as live sports events through the MLB, is off to a great start, having extended to all of the US just three weeks after its launch. 
 
And now, The Wall Street Journal is reporting the company announced plans to spend up to one billion dollars in original production for 2018, to build the roster of its original video tab.
 
The number is a fraction of what Facebook's digital competitors, like Netflix, which recently revealed it will spend up to US$ 7 billion in originals in 2018, or Amazon, which is set to spend US$ 4.5 billion this year. 
 
Yet, Facebook's investment is the same as the one Apple is said to have reserved for original shows and movies through 2018, marking the companies' clear plans to compete head to head with its heavyweight rivals.
 
In addition, the number "could fluctuate based on the success of Facebook’s programming," according to the WSJ report.
 
The first batch of shows in Watch include comedies, docu-series, realities and viral-friendly, short-form content, which have been commissioned specifically to the creators. But the plan is for it to become an open platform where everyone can participate.
 
And with over a billion dollars to spend, the company could reportedly be investing in more long-form fiction shows, as well as more sports programming deals.
 
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