Daily Management Review

Challenging TV and Web Rivals, Facebook Expands its Live Video Service


04/07/2016




Challenging TV and Web Rivals, Facebook Expands its Live Video Service
Facebook Live, the live video product of the company is being expanded. The company said in a statement that the feature would get a prominent place on the app as the company would also roll out features that would make it easier to search and comment in real time for the users of the feature.
 
Apart from presenting the strongest challenge yet to broadcast television and online rivals like Twitter Inc's Periscope live-streaming service, Snapchat's video features and Alphabet Inc's YouTube, the company also intends to increase revenue through this measure.
 
With companies competing to stream major sports events and exclusive video components from high-profile events such as the Oscar and Grammy awards shows, live video is becoming a highly competitive feature on social platforms.
 
Video that reaches a younger audience is of particular interest for advertisers.
 
Last year Facebook launched Facebook Live that offers streaming video in real time. A map of video streams around the world, expanded search and filters that echo those on other platforms were some of the additional features to Facebook Live that were added by the company on Wednesday.
 
Soon users will be able to add doodles, a nod to a feature on Snapchat and videos can be turned into black-and-white shots, like on Facebook's Instagram, for instance.
 
 Facebook hopes it will be used for everything from intimate family moments, such as a baby's first steps, celebrity-hosted question-and-answer sessions and breaking newscasts, said Product head Chris Cox while hosting a live video session on Wednesday intended to advertise the product.
 
The company has paid some partners to supply video in order to get Live off to a quick start, although he expected media companies would make money from advertising and other services longer term, said Cathcart, Facebook's vice president of product at a Facebook Live launch event in Hollywood on Wednesday, reported Reuters.
 
Reuters also reported quoting a source that Time Inc has been paid to use Facebook Live. Another source said that Vox and Re/code would be includedin the Vox Media Inc's eight brands which also have been paid by Facebook.
 
Facebook is paying The New York Times, BuzzFeed and the Huffington Post, as well, Re/code tech news site said.
 
A spokesperson said that Conde Nast Entertainment and Thomson Reuters also will work with Facebook Live. Thomson Reuters is the parent of Reuters News.
 
The display bar for many users on iOS and Android across 60 countries prominently displays the Facebook's app Live.
 
Facebook had not heavily pushed its own video products even as the Facebook’s News Feed has long had videos, largely shared from other websites such as YouTube.
  
The 1.6 billion-person social media site's video reach have however been placed on earnings calls by its executives. Chief Executive Mark Zuckerberg told investors in January that 500 million people watch videos on Facebook every day.
 
(Source:www.reuters.com) 






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