Is Facebook a media company or not? The answer to that long-time question might be here. After months of rumors that the world’s largest social network will turn to TV, Business Insider reported last week that Facebook is launching its own TV programming in mid-June.
Based on the report, Facebook seems to be launching its own equivalent to Netflix and Hulu with an important tweak: TV shows will be available in two tiers, one for longer shows that feel like regular TV and a second tier for shows that are 5 to 10 minutes long. The shorter shows would refresh every 24 hours.
Jeffy Fisher commented on the prevalence of Facebook Live; the social network has been focusing on video for a while. “They’re finding that with all the talk of Facebook Live, they’re finding that they’re getting more use out of the recorded segments,” he said.
Facebook will be competing with streaming services including Netflix, Hulu and Amazon Prime as well as other social media platforms such as Snapchat, which has been boosted by its emphasis on video, and YouTube, which announced recently that 40 new TV-style shows are in the works.