|By Kramer Phillips | 3 years ago|
Facebook is looking for social media stars, according to CNBC. In efforts to better compete with YouTube, Facebook is expanding it’s video opportunities with its “Watch” program, opening the door for more content to be eligible. This move will allow them and social media stars to earn more advertising revenue. Facebook also announced Brand Collabs Manager, which will help connect video creators with sponsorships.
According to eMarketer, digital video advertising revenue is set to hit 19.81 billion by 2020. YouTube, which is owned by Google, is currently the most popular home for online user-made video content. With this play, however, Facebook is attempting to grab more of that market. It was also announced that Instagram (a subsidiary of Facebook) will expand the length of videos and even introduce original Instagram shows.
Previously, Facebook Watch housed premium feature-length shows, most of which were produced by traditional media and production companies. The episodes were eligible for ad breaks, and the revenue was split between the show creator and Facebook. This model is being tweaked to allow for more users to get their content into “Watch.”
Media agency initiative CEO Mat Baxter think Facebook is late, however, and continues that “YouTube is a video platform, Facebook is a social network, first and foremost, with extensions.” Baxter says “the whole thing feels a little clumsy”, and that there already appears to be a pushback from the ads Facebook is running during the middle of videos.