Facebook.com is all set to generate marketing revenues by competing with Alphabet Inc.’s YouTube. The company has released its Watch video service for its American consumers on Thurs with the aim to enable the people to submit different programs and shows.
People are now more inclined towards watching programs and shows on their personal gadgets, rather than on the TV. That’s why marketers and promotional agencies are now switching the major portions of their budgets towards online marketing due to the availability of a higher number of audiences over there.
The company had started testing its video service in the beginning of this month. And the users can see numerous programs on the platform from different media outlets like Buzzfeed, Walt Disney and more. The users will be able to watch all genres of shows and even sports on this service.
As per eMarketer records, on an average, the US residents spend more than seventy-three min/day viewing online footages, which is a 7% increase in comparison to the previous year’s stats. The viewership of Television has also gone 2% down from the former year, to a total of 244min a day now. And this trend is anticipated to carry on with time.
According to Reuters, for building the interest of the masses, the company is primarily using the paid content generators. For smaller and shorter programs, the firm is remunerating between the figures of 10,000 and 35,000 USD. On the other hand, for lengthy programs, the firm is reimbursing up to 250,000 USD.
However, the firm clearly denied remarking on the expenditures it is making on those programs. The VP of partnerships at the company, Mr. Dan Rose, told Reuters that Facebook is not willing to go on with the content purchasing as its prime policy. He further added that the firm is not planning to obtain private rights of the content. The basic idea is to fill the platform up with high-quality content.
He said that Facebook is deciding to ultimately make the platform available for every person for submitting programs for authorization and get 55% of the advertisement income. The firm is currently testing how advertisements can work within the programs.
According to a senior expert at eMarketer, Paul Verna, the platform Watch will help the company in setting its position beside Youtube, which is a frontrunner for marketers in the online video space.
The company is saying its platform Watch is more private and more concerned with the community as compared to its rivals. For instance, it has the ability to recommend programs on the basis of the users’ predilections.
In addition, friends can also share their opinions with each other while watching a video. For example, the followers of the workout show “Crossfit” can simultaneously view the program and share their remarks on the live streaming while conversing in groups.
Rose said that the firm believes that its exclusive opportunity lies in involving the people and the community in the matters they seem to have interest for.