Continuing its ever-expanding presence in cyberspace, Facebook’s latest target is the video market.
Taking a page from YouTube’s playbook, Facebook will focus on “quick, snackable clips.” Mark Zuckerberg, Facebook’s bold, innovative leader strategizes, “I see video as a megatrend.” Moreover, he wants in.
Zuckerberg’s bold initiative promises to expand the online video market, providing a worldwide platform for creative talent and continuing to change the face of the entertainment industry.
It’s been 13 years since Facebook’s debut, and Zuckerberg continues to demonstrate he is never one to rest on past successes. Up until recently, videos on Facebook have been more of a passive add-on users accidently stumble upon as they are catching up on their friend’s latest postings.
Facebook is poised to enter the video market, having recently beta tested a video tab inside its mobile app
To compliment an active cyber product line—Facebook, Instagram, Messenger, WhatsApp, and Oculus—Zuckerberg’s bold idea is to make the Facebook videotab (currently rolled out to all US users) the go-to place for viewers. There they will find the latest clips of their favorite video stars and watch premium short episodic video entertainment. In preparation for the new initiative, over the past year, Facebook has beta tested a video tab inside its mobile app.
Initially, Facebook will pay creators for their video contributions. Once the platform is established and generating enough ad revenue, the company will move to a revenue-sharing model. With the dedicated video tab and fresh, new videos, Facebook is poised to capture a significant share of the TV ad market.
As the smartphone becomes the dominant vehicle for video entertainment, Facebook plans to be more like YouTube than Netflix as it pays for video.