Facebook Watch is a dedicated video hub on the social network. The company has been investing considerable capital in creating original content for Watch, including news shows. As Facebook Watch gets expanded to more markets across the globe, the company has reportedly cut funding for news shows on the platform.
The Information reports that Facebook has cut funding for some of the original news shows that it was making in partnership with Buzzfeed, CNN, and ABC News. The company’s budget for news content was around $90 million some of which has reportedly been relocated to other programs for Watch.
Facebook has been rolling out Watch gradually to more markets across the globe. It has now confirmed that Watch will be available to all users across the globe. Moreover, it will also be accessible through Facebook Lite.
It’s also looking to generate more revenue from this platform. Facebook has expanded its 15 sec ads to over a dozen new markets. However, the report mentions that ad revenue generated from Facebook Watch hasn’t been up to the company’s expectations.
It will continue to expand ads in more countries, nonetheless, as Watch grows further on desktops in the coming months. These markets may include South Africa, Hong Kong, Taiwan, Italy, Saudi Arabia, and more.
Filed in . Read more about Facebook. Source: newsroom.fb