Facebook's fondness with videos is no secret. Now, to up its game, the social media giant is in talks with Hollywood studios for original scripted TV shows, in some cases offering up to $3 million per episode, according to The Wall Street Journal report. Apparently, Facebook is also keen on procuring less-expensive productions that would cost hundreds of thousands each episode to make.
The major talent agencies that could be in the loop include Creative Artists Agency, United Talent Agency, William Morris Endeavor and International Creative Management Partners.
Facebook has set late summer to launch the show which will target audiences from age 13 to 34, with a focus on the 17 to 30 range. The company has already lined up “Strangers", a relationship drama, and a game show, "Last State Standing", the report said.
In a statement, Vice President of Media Partnerships Nick Grudin said, "We're supporting a small group of partners and creators as they experiment with the kinds of shows you can build a community around -- from sports to comedy to reality to gaming. We're focused on episodic shows and helping all our partners understand what works across different verticals and topics."
Unlike Netflix and Amazon Prime Video, Facebook is expected to release episodes in a typical short-form manner, instead of dropping an entire season in one go.
It seems Facebook will be quite aggressive about trying to own as much of that content as possible. Because, apart from its aim to up its game in the video, Facebook is also targeting the tens of billions of ad dollars spent on television.