Facebook has inked with the new contract with nearly 140 Media companies and the celebrities in creating the videos for promising the live streaming service. Facebook is looking forward to engaging 1.65 million monthly users in this social networking position itself to cash in a profitable advertising has yet to start.
On this scenario, Facebook has agreed to make payments to the video creators more than $50 Million. This report is according to the document reviewed by The Wall Street Journal.
Checkout the famous personalities and media companies who are involved in this contract. The media partners like New York Times and CNN, the digital publishers like Mashable, The Verge, Vox Media and the Huffington post. The celebrities including Gordon Ramsay, Kevin Hart, Deepak Chopra and Russell Wilson.
“We wanted to invite a broad set of partners so we could get feedback from a variety of different organisations about what works and what doesn’t,” Justin Osofsky, Facebook’s Vice President of Global Operations And Media Partnerships.
According to the reports, Facebook mentioned that it would start paying for some creators to user their Live Streaming service and few publishers have accepted that being paid by Facebook. But the document reviewed by the Journal is the most wide-ranging list so far of participating content providers and their specific financial transactions with Facebook.
Facebook is the major hub for the video hub, each day in the news feed more than 100 million hours of daily videos are viewed by the users. CEO of Facebook, Mark Zuckerberg is telling that live videos will provide a further lift in user engagement and get people to come to this service, more often and stay longer.
According to the statistics, the top 500 Facebook pages which are from the media companies has posted at least one live video on the Facebook, and this rate is about 44%. This value has increased from 11% in January, according to the analysis by the Social bakers (A social media Metric company)
The best thing about the Live Streaming service is, when the users or the publishers stream something live, Facebook pops a notification automatically to their fans on the Facebook.
Earlier Facebook has said it found that the average users watch the live videos three times longer than other video types. These live videos are planned to be exclusive to the Facebook Live platform.