Facebook is targeting Millennials in its latest video push.
The social networking behemoth has signed deals with a handful of media companies that will produce original video content strictly for Facebook’s platform.
Facebook has signed deals with ATTN, BuzzFeed, Group Nine Media and Vox to create content that appeals to Millennials for the social media firm’s upcoming video service, according to Reuters. The video service will feature long- and short-form content with ad breaks, sources “familiar with the situation” told Reuters.
The social networking firm wants to create two types of videos, the sources said: Facebook-owned scripted shows with 20- to 30-minute episodes and shorter scripted and unscripted shows with five- to 10-minute episodes, which will not be owned by Facebook.
Facebook will reportedly pay as much as $250,000 for the half-hour scripted shows that it will own. The social network is not going out on a limb with this idea. Netflix and Amazon.com both successfully create content for their subscribers.
The shorter shows will cost Facebook roughly $10,000 to $35,000 per clip. The company plans to give creators 55 percent of revenue from the ads that appear alongside the content, the sources revealed. Ads will be sold to run during both the half-hour and 10-minute shows.
Facebook has declined to comment on the report.