This week at work we had our "Facebook person" come in and give us an update on what Facebook is doing not only for our company (GSK), but an overview of what is going on with their own. After lightly opening with, "You may have seen us in the news lately..." the presenter highlighted some of their current and upcoming business initiatives.
Immediately, I was intrigued by the concept of "Facebook Watch" and how it would effect Digital Media Marketing.
Originally announced in August 2017 (WSJ), Facebook began its journey into the world of online streaming. In its origin, Facebook Watch will feature professional content, but will eventually allow any user to post original content as well. For the time, it seems like a mash-up of YouTube, Netflix, and Hulu all in one.
Of course, FB Watch will be funded through advertisement. Kissmetrics cited that production partners will earn 55% of ad break revenue and FB will keep 45%.
So what makes it difference? The article highlights:
- Most of the content will be exclusive
- Free because it's funded through advertising (versus popular subscription based programming platforms)
- SUPER PERSONALIZED (because it's through FB)
...And digital marketers need to pay attention. With close to 2B users logging into FB daily, marketers will have an incredibly large (highly targeted) audience that will be forced to pay attention to their advertising during a "commercial" break. Additionally, FB is revamping itself toward a new mission of building community and getting back to the basics. As the article suggests:
"So far, everything about Facebook Watch looks good for marketers. The people on the paid team will enjoy seeing more eyeballs on their ads, and the organic folks will get more “authentic” opportunities to align themselves with influencers. More and more, brands are trying to be seen as friends, not corporations. Facebook Watch will let them do just that."
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