The official word is that online social networking service Facebook, intends to invest a budget of $50 million towards video creators, as revealed in a document published by WSJ. Partners that are included in this deal are media giants like CNN and NYT, digital publishers like Vox Media, Tastemade, Mashable and the Huffington Post. Meanwhile, numerous celebs have joined in, including Kevin Hart, Gordon Ramsay, Deepak Chopra and NFL quarterback Russell Wilson.
Here’s what Justin Osofsky, Facebook’s vice president of global operations and media partnerships, had to say on the subject: “We wanted to invite a broad set of partners so we could get feedback from a variety of different organizations about what works and what doesn’t.”
For the past year or so it’s clear that Facebook is becoming a more video-oriented service. During May 2016, a 44% of the top 500 Facebook pages (maintained by various media companies) published at least one live video to Facebook, which marks a 11% rise since January; that’s according to data provided by social media metrics firm Socialbakers.