YouTube doesn’t have much competition when it comes to original video platforms, with 1.3 billion monthly users. This might all change with the new video watching section added to Facebook, Facebook Watch. Not only will Watch be competing with YouTube, it could also attract Netflix and Hulu subscribers with its original shows. Facebook has the potential to really compete with these other video platforms because of its user base which surpasses all others.
Facebook’s intentions with Facebook Watch are to boost revenue and give people a reason to keep going to their newsfeed with content they cannot get anywhere else. According to Cisco Forecast, video will account for 82% of all internet traffic by 2021. This probably has a lot to do with Facebook grabbing onto video so heavily. This year alone, video ad spend is expected to reach $4 billion.
The content of Facebook’s original videos will range from news and event coverage to reality TV and scripted shows. Facebook is known for tailoring its content to users personal interests, so it is no surprize that Watch will have personalized video recommendations for each user. Facebook will send you recommendations based on what your friends are watching, your interests and of course, “videos you might like”. However, in order to really compete with YouTube, it will need to be different, engaging and creative with its original content.
Facebook has already released a few of the titles that will be available to watch. These include Tastemade’s Kitchen Little, Major League Baseball Live, A&E’s Bae or Bail, and more. You can view a list of Facebook Watch shows and descriptions here. Facebook plans to roll out this new video feature to users soon. All in all, the success of this new feature is really going to come down to content.
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