It’s been two years since the social media giant Facebook, launched its own video streaming platform and now has become a massive destination. The platform topped 1.25 billion monthly views globally. Recently, Facebook reported that 140 million people spend at least one minute on the platform, per day and 720 viewers per month.
Facebook also claims that it has more than 1.86 billion monthly active users.
The company also featured some very successful publishers like UFC, including some large ones like BuzzFeed and individual creators like Benito Skinner and Brandi Guice.
With growing demand and views, the company also decided to introduce licensed music videos on the platform. The feature allows the viewers to explore music videos by genre, artist, mood and makes them a playlist accordingly. Last month, Katy Perry debuted her new music “Smile”. The title track of her just released fifth album, exclusively on the Facebook watch platform users.
The Facebook watch platform also allows the user to customize their feed by exploring and subscribing to different topics. The amount of users that are tuning in to the Facebook watch live events, original shows, sports, news and music videos, shows that it is giving a hard competition to its rival YouTube. They also announced that publishers and other business would be able charge access to live events and this could be a good earning source, with Facebook taking no fees for the next year.
Facebook is also working towards providing the users a more wholesome experience and showing what the users are really interested in. The live video section within the platform also helped the UEFA champion’s league soccer final gather up around 13.7 million viewers and even Perry’s video was seen by millions.
Facebook’s strategy is to build an open, global video platform and also is clearly aimed at challenging the rule of Google’s YouTube. What basically makes it different from YouTube is its social features. Facebook watch’s original content is focused more on talk shows and reality programming, while sidelining all kinds of scripted shows.
They are also planning the launch of “Red Table Talk: The Estefans” with “no topic off limits” according to the producers, in October.
Therefore, there is no denying that Facebook watch has made a significant difference and also put a lot of efforts in content discovery and monetization Features, along with launching new tools for creators and publishers while also keeping in mind the user’s preferences.