Facebook’s apparently working on a brand new video-focused app for set-top boxes like Apple TV, transitioning from browsers and phones to televisions in the process. The tool is reportedly one of many video-first initiatives being planned by the company.
Sources told the Wall Street Journal that Facebook is in talks with media firms to license long-form TV programming for its new app. As for why it feels the need to transition to television, that’s because its biggest money maker, the News Feed, has apparently run out of room for more ads.
Video ads showcased in the middle of content would serve to offset any kind of revenue fall as they command a premium over text or image ads. Media executives say this content may be anywhere upwards of 10 minutes long and comprise of sports, entertainment, and scripted shows exclusive to the platform.
However, Facebook’s recent Q4 earnings call suggests that the brand is planning to follow the YouTube formula of short form content rather than a Netflix-like model for the present. The company’s CEO Mark Zuckerberg stated that he sees video as a mega trend, but plans to focus on clips for the foreseeable future.
Facebook is looking to kickstart the ecosystem for its new video tab by paying for content in the beginning to draw viewers in before settling to an advertising revenue share system with creators. Zuckerberg hopes the model attracts the best episodic content and becomes a convenient way for users to follow video stars and watch clips.