Facebook is increasing its programming budget for Facebook Watch. However, the new strategy involves pulling back on some of the original content found on the platform.
The Information shared this story in an exclusive report, noting that the programming budget for Facebook Watch will be around $1.4 billion for this year.
Recently, Facebook cancelled two original shows on its lineup, Jessica Biel’s Limetown and Sorry for Your Loss with Elizabeth Olsen.
When Facebook launched the video service, the company made it clear that original programming would be a large part of the content available. The original goal was to compete with major players in streaming, including Netflix and Amazon Prime.
Now, it seems Facebook Watch will be more focused on rights to live sports. The PGA Tour, for example, recently made a deal to bring highlights from the gold event to Facebook Watch. With a new strategy that includes highlights, clips, and shorter videos, it’s more likely that Facebook Watch will be competing with YouTube.
We’ll likely learn more about Facebook’s decision to cut back on originals and what the plan is for content going forward when the company shares their Q4 and full 2019 results later this afternoon.
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