So, Facebook have just announced their newest product, Facebook Watch. No, I’m not really talking about one of these. Facebook are not launching a smartwatch, I’m talking about Facebook’s new video-streaming service. So, what’s this all about? Are they taking on TV stations, Netflix, Youtube? Could this be your chance to make your millions by producing content and streaming it through Facebook Watch? Or, do you think Facebook’s ulterior motive is to get you to spend even more time on Facebook?
So, Facebook launched in 2004, quite a small social network, focused on universities in the U.S. They grew very quickly, right now they have over two billion active users.
Every month, every day more than a billion people log into Facebook and the very large majority of those are accessing Facebook from a mobile device. Well, what’s Facebook’s next plan to capitalise on that?
Well, that’s all about Facebook Watch. They’re hoping, this is the thing that’s going to increase their earnings and have a big impact on other players on the online space.
So, they’re definitely gunning after Youtube, and they would very much like to have an impact on Netflix, Hulu, Amazon video, traditional pay TV providers too. So, that’s what they’re working on.
How is it going to work? Well, you will have a watch icon come up on Facebook.
For now, this is just limited to certain Facebook users in the U.S but very soon, it’s going to spread across U.S, across the world, everybody will have access.
Now, the opportunities here are pretty interesting. For those who create content, create good videos, and one who actually create series, TV-like series, well, there’s going to be some interesting opportunities here from an earning perspective because Facebook will be putting adverts in the middle of these programs.
So, a little bit like traditional TV. We don’t know yet whether they will have some variations on a model where you could pay to get rid of the ads, certainly no suggestion of that at this stage.
Well, what will be interesting though, I think, for advertising on Facebook Watch, of course, is that Facebook knows so much about you, that I would expect that they can deliver much more pinpointed advertising, therefore, advertising that isn’t so annoying because it’s actually, somewhat relevant to you.
So, let’s hope they get that piece right and let’s wait and see how it works out. But at this stage, if you’re into video content-creation, you want to watch the space.
If you like watching content, then, this is going to be another thing where Facebook try and take up your time. It’s not that they’ve taken enough of it.
Alright, that’s it for me this week. You can catch me here on Facebook, of course, each week with my weekly videos and at paulspain.com/updates.