Facebook looks to the web instead of Hollywood for its original videos

Facebook’s original video content is going to have a distinctly millennial feel, if their producing partners are anything to go by.

According to Reuters, Facebook is teaming up with Buzzfeed, Vox Media, and Group Nine Media. Vox Media are the parent company of The Verge, and Group Nine Media produce Now This, Thrillist, and The Dodo. 

All of this information is currently coming from sources that are asking to remain anonymous, so we’re still waiting for an official announcement about the content.

What we know so far is that the content will apparently fit into a couple of different categories: there will be 20-30 minute shows, and 5-10 minute shows. The new content will be a mix of scripted and unscripted, although what exactly this means is unclear.

Money where its mouth is

Following a similar model to YouTube’s strategy with original content, the revenue will be driven by adverts. The longer-form content will be owned by Facebook, with the shorter content owned by the media companies, giving Facebook a tasty 45 percent cut of their ad revenue.

The social media giant is clearly investing in this land-grab in the lucrative market of streaming video. Apparently it's paying up to $250,000 for the longer form content, and between $10,000 and $35,000 for the short form content. 

When we reported on this recently, the rumors were that the shows were going to be released in June. Whether that is still the plan is unclear, but as soon as we know, you will.

Via The Verge

Andrew London

Andrew London is a writer at Velocity Partners. Prior to Velocity Partners, he was a staff writer at Future plc.