Picture this: Is Facebook seeking to launch its own TV shows?

A new report has revealed that Facebook is apparently contacting Hollywood agencies to produce scripts for original TV shows that would premiere on the network.

Netflix is now an established name in flighting original programming, and Amazon Prime has followed suit in addition to YouTube Red. Now, another web giant could soon join the mix, as it is reported that Facebook is apparently contacting Hollywood agencies to procure scripts for original television productions.
The Wall Street Journal reports that Facebook is allegedly willing to commit to production budgets as high as $3million USD per episode, and is further seeking to spend between $500,000 USD to $900,000 USD per episode on less expensive content.
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Reportedly, Facebook is seeking to earn through television commercials, and is targeting audiences between the ages of 13-34 with an emphasis on viewers between 17 to 30 years of age. Accordingly, the social network is reportedly seeking shows similar to Pretty Little Liars, (ABC’s) Scandal, and The Bachelor.
The Journal cites that Facebook has apparently signed a deal for a new show entitled Strangers and a game show called Last State Standing, and is further seeking unscripted, 10-minute long videos to premiere in its Spotlight video section, and has guaranteed creators ad revenue between $5,000 to $20,000 USD per short.
Facebook has apparently set a launch target for later this year, though that could well change. Where Amazon and Netflix tend to release entire seasons at once, Facebook would seek to release episodes over time in an episodic format and that it would share viewership data to Hollywood.
The news is an interesting announcement, though it is perhaps not entirely surprising given Facebook’s aggressive push into Live Video.
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Source: The Wall Street Journal