Facebook’s live streaming sets cash registers ringing for media houses

Facebook is not only the leading social media platform but also a potential revenue generator for media houses. As it turns out, the company is paying out more than $50 million to publishers and celebrities who produce content for Facebook Live—a live streaming platform.

Facebook made several deals with media partners, including Mashable, when its live streaming platform was launched, but the value of these deals was previously unknown. Facebook has contracts with close to 140 publishers and celebrities.

The terms of each deal varies, but BuzzFeed's deal is the most valuable at $3.05 million. In total, at least 17 are worth more than $1 million, including deals with the New York Times and CNN. Among celebrities, Facebook has tied up with Seattle Seahawks quarterback Russell Wilson, actor Kevin Hart, and chef Gordon Ramsay, along with YouTube stars and institutions like the American Museum of Natural History in New York.

Under the contracts, publishers and celebs produce a set number of broadcasts using Facebook Live. How much a publisher is paid for these broadcasts depends on how big their audience is and how many videos they agree to make.

The live streaming platform is an ambitious project for Facebook, and will eventually be monetized by selling ads against its video streams. The deals with publishers and other influential users are to jump-start engagement with the service.