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Facebook Prefers to Imitate YouTube Over Netflix

Social media and networking platform Facebook is keen to be like YouTube rather than Netflix, since the latter pays for the video. Primarily, Mark Zuckerberg is interested in the YouTube model since Facebook will gather ample amount of rapid video clips. Apparently, the founder of the biggest social media platform is uninterested in pouring money in long-form shows or movies like Netflix.

When asked about Facebook’s video strategy, CEO of Facebook Mark Zuckerberg answered:

“We are focusing more on shorter form content to start. I see video as a mega trend”

Also Read: Facebook signs $50 million deal with media celebrities for FB Live

There is simply no doubt that Facebook will invest heavily to reap profits from video content. In addition, they will also pay to both content creators and ad revenue sharing to get their content into its News Feed. Facebook is not keen to immediately put itself into investing a stack of TV shows and movies. While commenting on the same, Mark Zuckerberg said:

“Over the longer term, people will experiment with longer forms of video as well as all kinds of different things. But quick, snackable clips are the primary focus for the foreseeable future”

Initiating Ecosystem for Video Tab

While talking about starting the ecosystem for the video tab, Chief Financial Officer of Facebook David Wehner stated:

“Our focus was on kick starting the ecosystem here for the video tab. We’re looking at a wide range of content. We’re certainly going to be seeding content to get the ecosystem going. That’s not about doing big deals. We need to be able to support that with a business model that we’re working on with ads”

Quick Read: Facebook apologizes to advertisers for inflating video stats for 2 years

New Video Tab to Change Video Viewing Behavior

According to Mark Zuckerbeg, the new video tab will eventually change the overall behavior of how a video is seen on Facebook. It is noteworthy to mention that this feature is currently rolled out in USA only. Videos are currently being watched in the News Feed of a particular user. Mark stated:

“Say I want to watch video content now. That’s what I think we’re going to unlock with this tab. The early trends are good”

The founder also believes that it would be convenient for the users to watch their favorite video stars and see what they are offering in a short clip.

One can find and watch almost anything on his smartphone. Facebook is trying to cash this opportunity of providing short video clips in its News Feed since devices now work as a primary source of television.

Do you think Facebook will reach the stature of YouTube one day?

Source: Techcrunch

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