Facebook is keen to drive in more ad revenue and has launched the Watch service in the US. It looks like a tough competitor to YouTube.
The Facebook Watch feature has finally gone live. However, the video service is only available in the United States right now. That is also how Facebook had planned its entry in the hugely lucrative video streaming segment, opting for a phased launch starting with the domestic market before rolling out to others elsewhere in the world.
Those in the USA can look forward to a video icon placed along the top, just below the News Feed and Messenger icon in the navigation menu of the desktop site. For the company’s mobile app, the Watch tab is along the bottom navigation bar.
So if ever you feel bored and want something else besides hanging out with your friends, there is the new Watch tab you can always turn to. That said, the social media element is always there as you can get recommendations based on what your friends are watching. Similarly, you can also interact with your friends and associates while watching a show.
Also, of course, all of it isn’t coming free, so to say. That said, our share of contribution is limited to the time spent watching the various ads that the videos will be interspersed with. In fact, it is online ads and the revenue stream associated with it that happens to be the central driving force behind Facebook’s launching of the new Watch service. Put in other words, the Watch will be what YouTube is to Google, another dedicated and hugely popular medium to splash ads.
The move is also backed by research data that point to a gradual but steady shift in consumer viewing preference, from TVs to online videos. Facebook too has exploited the news feed to the maximum, leaving not much room to fit in more ads without those looking overbearing. A dedicated video service, under the circumstances, allows for a nice medium to drive in more revenue.
The social media firm is also being generous in its new venture, offering 55 percent of the ad revenue to the content creators while keeping the rest for itself. To lure in content developers, Facebook said they are offering up to a max of $250,000 for anyone willing to create long duration shows while the shorter duration shows will be paid $10,000 to $35,000.
There is no word yet as to when the Watch service would be made available around the world.