FutureFive NZ - Facebook continues to overachieve, wants to take on Netflix

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Facebook continues to overachieve, wants to take on Netflix

Facebook is like that annoying friend with rich parents who just does whatever they want and hops on every bandwagon just because they can. Now Facebook is planning to enter the video streaming business and take on Netflix.

According to Business Insider, Facebook has plans to produce scripted TV shows and hopes to have its first set of shows ready in June. Is this really necessary, Facebook? “Facebook and chill” doesn’t have the same ring to it.

In preparation, Facebook has been the signing celebrities and a creating a virtual reality dating show. The contestants meet via VR before meeting in real life. They have reportedly given the green light on around 24 new shows.

According to sources close to Facebook (Facebook has yet to comment on the matter), the social media titan’s strategy involves producing two kinds of shows: long form traditional programs such as Netflix's House of Cards and shorter, less expensive shows that run for about five to 10 minutes.

It remains to be seen if Facebook will require a subscription for this service, or they will continue to rely on ad revenue and blast viewers with ads in the middle of their shows instead.

Facebook is probably trying to compete with their rival platform Snapchat, which has recently signed deals for original shows with Discovery, BBC, ESPN and Vice.

Twitter last year had a deal with the NFL to stream live football games, which they have since lost to Amazon. While Netflix stands firm on not entering the live sports game, Facebook sees it as an area to capitalise on.

Mark Zuckerberg recently said: "Sports is probably something that we'll want to try at some point."

So there you have it. Facebook can’t just stop for, like, five minutes. It’s crazy that we’re going to likely be going to social media for all our TV watching needs (aside from Netflix, of course). I’d imagine the general mood at TV stations is going to become more and more grim as time goes on.

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