Last week, Facebook announced that it will be releasing a new feature called ‘Facebook Watch’, which will allow users to view videos both live and pre–recorded in a new tab titled ‘Watch’. Facebook has released the ‘watch’ tab to a small group of users in the US before releasing it globally.
Facebook’s latest innovation will be available cross–platform including on mobile and TV as the tech juggernauts look to share some of YouTube success. Earlier this year YouTube announced that people were watching a billion hours of video content on their website every day - and Facebook wants a piece of the pie. It makes sense - recent research from comScore found that mobile devices dominate the total minutes spent online. in the UK and USA, mobile’s share of total digital minutes is 61% and 71% respectively.
Facebook also announced that they’ll be partnering with several publishers from the likes of the NBA to NASA who will earn 55% of ad break revenue. It looks to be short and medium form original content in the lifestyle, reality and sports verticals. You can expect to see programmes called ‘Science @ Nasa’ which will explore topics in quick four to five-minute episodes, Gabby Berstein answering questions in live and recorded segments and a behind the scenes look at the Golden State Warriors’ NBA Championship 2016-17 season.
This is major shift from Facebook as it joins the likes Snapchat, YouTube, Hulu and Netflix in assault to break the traditional TV model. This move by Facebook to enter the already cluttered video streaming market confirms that we’re moving to a mobile first world and video content is at the forefront.
At LoopMe, we’ve seen a huge appetite for mobile video as brands can convey their marketing message in a more engaging fashion. Mobile also gives multiple data points which allows Facebook and other partners the ability to provide more accurate targeting so brand budget isn’t wasted. Additionally Facebook’s focus on short-form content reflects the need for shorter content on smaller screens. Mobile screens require a different approach and strategy than solely desktop video and it’s great to see the industry waking up to this.
If you’re interested in seeing how we use data to provide targeted video advertising, check out our video of PurchaseLoop.