Facebook plans to invest in production original TV shows

8 years ago - Published in Finance, Fundamental Analysis

Facebook is in talks with Hollywood studios about producing scripted, TV-quality shows, with the aim of launching original programming by late summer, according to Wall Street Journal report.
Facebook has indicated that it was willing to commit to production budgets of as much as, even $3 million for each episode, in meetings with Hollywood talent agencies, the Journal reported, citing sources familiar with the matter. 

The social media website is hoping to target audiences from ages 13 to 34, with a focus on the 17 to 30 range. The company has already lined up “Strangers”, a relationship drama, and a game show, “Last State Standing”, the report said. The social media giant reportedly wants to avoid shows about children and young teens, as well as political dramas, news, and shows with nudity and rough language. Facebook could not be immediately reached for comment.

The social networking giant had admitted that it is a media company, and now it has begun to get into the business of producing content including original TV shows as well as unscripted video shorts. The company is expected to release episodes in a traditional manner, instead of dropping an entire season in one go like Netflix and Amazon, WSJ reported.

The company is expected to release episodes in a traditional manner, instead of dropping an entire season in one go like Netflix Inc and Amazon.com Inc, WSJ reported. 
Facebook isn’t the only one looking at original video content. Apple recently hired co-presidents of Sony Pictures Television, Jamie Erlicht and Zack Van Amburg, earlier this month, to lead its video-programming efforts. Apple began its long-awaited move into original television series last week, with a reality show called “Planet of the Apps”, an unscripted show about developers trying to interest celebrity mentors with a 60-second pitch on an escalator. 

Apple will also produce a show scheduled to air in August, which emulates James Corben’s popular ‘Carpool karaoke,’ which runs on his CBS show.