The way you consume your favorite shows and movies will change dramatically in 2018. With AT&T pushing heavy with their DirecTV Now streaming service, and Netflix and Hulu battling it out, it appears the future of our TV will be determined by the success of streaming services. Now, Facebook is rumored to be looking into joining the original content game as well. According to a report published by The Wall Street Journal, they are looking to spend as much as $1 Billion on new, original content.
The significance of this move is all based around how much Facebook is actually willing to spend. A billion dollars is no small figure, and I’d have to imagine if Facebook is serious about a new video content platform, they’d pretty much have to go for broke. The big question here is, can Zuckerberg and co get enough groundbreaking content to compete with Netflix and Hulu? Some might say yes, if Facebook can lure actual content creators away from places like YouTube.
There are also some who think that Facebook’s interest in video is another passing fad within the company’s crosshairs. I’d have to think otherwise looking at the changes they made recently to their mobile app. The app now features a section called ‘Watch,’ which actually already showcases original content to users.
Facebook Watch is pretty barebones for right now, but I’m sure they’ll be expanding functionality rapidly. Right now the two prominent shows featured star everyone’s favorite loudmouth Lavar Ball, and a show featuring pro athletes telling each other bad jokes in an attempt to make each other laugh. My first impression of it was more along the lines of a YouTube light than that of a legit competitor to Netflix.
Every service has a beginning though, and Facebook seems intent on making sure they are the one stop destination for all content consumption. If they are serious about rolling out a new platform, they certainly have the financial backing for it, now they just need the user adoption.