On the heels of the launch of premium video venture Watch, reports have surfaced that Facebook is poised to spend $1 billion on original content over the next year.

While Facebook has funded some shows for Watch — to the tune of as much as a $3 million per episode — the company has previously said that these initial investments merely served to seed the ecosystem, and that, in the future, Watch, like YouTube, would primarily consist of ad-based content furnished by outside creators. Facebook’s $1 billion commitment, first reported by The Wall Street Journal, signals that the company may be interested in developing the kinds of premium-style shows that are flourishing on competing platforms like Netflix and Amazon.

The rumored budget would put Facebook on par with Apple, which is said to have allocated a $1 billion budget to fund roughly a dozen premium-style shows over the next year. However, it’s still far less than streaming giants Netflix and Amazon spend on original content annually — or $7 billion in 2018 and $4.5 billion this year, respectively. The Journal reports that Facebook’s budget could fluctuate depending on the success of its shows.

After its nationwide launch last week, Watch’s initial programming slate includes: interactive dating series Make Up Or Break Up, an adaptation of the Humans Of New York blog, Mike Rowe’s Returning The Favor, and the cancelled MTV comedy Loosely Exactly Nicole.

Facebook Comments

Don't miss out on the next big story.

Get Tubefilter's Top Stories, Breaking News, and Event updates delivered straight to your inbox.

This information will never be shared with a third party