Facebook has formed a new funding program in a bid to work with publishers and influencers on developing new shows for its video service platform, Facebook Watch.
The development follows the social media platform’s recent meetings with publishers and studio production partners in an effort to lock down pitches for new shows on the video service, which would star influencers with large followings on the channel. These shows would be funded by Facebook and produced by the production partner involved.
According to sources from Digiday, the program will span verticals including entertainment, news and sports. The content creators would be in charge of the production of the show, with Facebook providing funding and other support services.
Opportunity for influencers
Facebook has been stepping up its efforts in recent months to lure content creators around the world to use its Watch platform to engage with user communities and also make money from their content through ads. Last month saw Facebook have a large presence at the first-ever VidCon London with video creator Jay Shetty giving a keynote session on how he made more than $1 million from Facebook ad revenue in the last 12 months, netting him over 20 million followers.
“Facebook is going through a growth phase,” Shetty told Variety last month. “They’re recognising the importance of creators and helping them grow.” He added that his speaking and life-coaching businesses “have been possible because of Facebook and its scale.”
To be eligible to earn revenue through Facebook ads, creators must have an official Facebook Page with at least 10,000 followers. They must also, in the past 60 days, have had a minimum of 30,000 one-minute views on videos at least three minutes long.