Facebook Watch, a video-centric channel on the social network, plans to incentivize creators with monetization opportunities, just like rival YouTube…
Facebook continues its evolution with a shift in video emphasis. To that end, it’s now planning to open Facebook Watch, a video platform right on the social site, to more creators. Of course, the incentive is monetization.
Facebook Watch Creator Incentives Planned
The news come at a time with the social behemoth reports a drop in north American users and a loss of 50 million hours worth of activity. To combat the shrinkage, Facebook will coax video creators with promises of cash.
“Facebook wants to allow more people to create their own shows on Watch, according to three media agencies who asked they remain anonymous because the conversations are private. Instead of buying rights to these shows, however, Facebook wants to create a system where creators can upload their shows for free, then earn a cut of the revenue from ads placed on that content — similar to how YouTube pays its online creators,” CNBC reports.
However, this isn’t exactly a surprise out of left field. The entire purpose of Facebook Watch is an alternative to YouTube. Both platforms boast huge user numbers. YouTube claims 1.5 billion monthly logged-in viewers. While Facebook has 2.13 billion MAUs or monthly active users.
And, this might well be the right time. YouTube just announced it will now punish creators who cause “significant harm” to the community. This, after creator Logan Paul uploaded a video with an alleged suicide victim in the background. YouTube has also had a lot of trouble with advertisers. It surfaced extremist content, causing an advertiser revolt.
At this time, Facebook Watch pays some of its media personalities. Amounts range from $10,000 to $500,000 per episode, depending on length and exclusivity. However, some shows are actually free, arranged in a partner basis.
There’s more to come. But for now, it’s clear Facebook plans to invest more strategically into the video business.