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.
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.