Facebook has invested heavily in live video, and according to a new report, that investment is paying some legitimate dividends. In a recent post, Facebook head of video Fidji Simo noted that watch time for the social media platform’s live video content has increased four times over in the past year.
Simo also noted that one in five Facebook videos is now a live video. The proliferation of streaming content on the social site was driven in part by a 2016 algorithm change that promote Facebook’s live offerings. In addition, Facebook has used push notifications to alert users when their friends are going live.
It is not just these tweaks, however, that have allowed Facebook Live to boom. The tech company has also spent a considerable amount of money to gather a library of streaming content and promote that content through advertising. In one month alone, Facebook spent more than $16 million on a campaign that included TV ads and billboards like the one pictured above.
For Facebook, the benefits of that investment have shown up not just in terms of the increased consumption of its live videos but also in its advantage over competitors like YouTube in the streaming market. While Facebook is now paying more attention to premium content and has moved some resources away from live video, its execs seem pleased with the results they’ve seen. For more info, check out the video Simo attached to her recent post.