Facebook has signed a series of deals with millennial-focused news and entertainment outlets, including BuzzFeed, Vox Media, ATTN, and Group Nine Media, to make exclusive shows for an upcoming video service.
According to Reuters, citing sources familiar with the situation, the media companies will produce both short and long-form content with ad breaks.
Under the deals, the long-form content will come in the shape of 20 to 30-minute scripted shows owned by Facebook, while shorter scripted and unscripted five to 10-minute content will not be owned by the social network.
Facebook is said to be paying up to $250,000 for each longer show, with shorter shows costing it between $10,000 and $35,000. Furthermore, creators will get to keep 55 per cent of the ad revenue generated by their content.
The internet giant has been working to make its video offering appealing to users, and make a concerted effort to break into the world of live TV and on-demand streaming.
Earlier this year, Facebook signed a deal with Major League Baseball (MLB) to stream 20 games live this season. In addition, it came to an agreement with Univision Communications to livestream 46 matches from Mexican football’s Liga MX, in English, this year. In the past, Facebook has livestreamed basketball, women’s football, and table tennis.