Facebook announces it has been working on a video app for set-top boxes that would feature “TV-quality” shows licensed by the company. Although the social network has been pushing live video, it believes an app would hold longer, higher quality content. Facebook seems to be focusing heavily on videos and tactics that will boost their ad revenue. They recently updated their News Feed last week to place a greater emphasis on longer videos and they are also testing mid-roll ads that will appear 90 seconds into videos. The new video app would help Facebook tap into a new ad market. Facebook has not announced when the app would be released, but it has been in process since summer. Click here to learn more about the future of Facebook TV. What do you think about Facebook’s move into TV?