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Home Companies Company News

Facebook Wants To Go Into TV Production

Onome Ohwovoriole by Onome Ohwovoriole
August 11, 2017
in Company News
Facebook Wants To Go Into TV Production
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Facebook has reportedly commissioned two original programmes for its video channel, signalling a move into TV content. The content will be made available through Watch, its video app for United States users before expanding to other parts of the world.

Facebook is playing on its advantages

About 1.5 billion users login to their Facebook accounts daily, giving the TV service a large potential viewer base. Facebook also has access to data on customers preferences through its ownership of Whatsapp and Instagram, so it will be able to create user specific content cutting across various demographics. Going into television gives it an opportunity to increase its revenue base through advertiser income.

How the Nigerian creative industry can benefit

Data has shown that over 10 million Nigerians are on Facebook. Africa is a growing market for several giants. Youtube which is owned by Google, has also stepped up a campaign, and is also developing plans to produce its own content. Increasing adoption of mobile phones, and poor power supply means information is gotten from mobile phones. Facebook could decide to develop content suitable for an Nigerian audience.

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Facebook was launched February 4 2004, by Mark Zuckerberg and his fellow classmates Eduardo Saverin, Andrew Mccallum, Chris Hughes and Dustin Muskovitz, The company has since expanded into other areas buying Instagram  for $1 billion in April 2012 and Whatsapp for $19 billion in February 2014.  2016 revenues were estimated at over $25 billion and the company has over 20,000 employees.

Tags: FacebookNews Review
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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