Facebook has been willing to pay millions of dollars for exclusive rights to more premium, longer shows, while less expensive and shorter shows reportedly cost between $5,000 and $20,000.
The redesigned product, called "Watch", will be available initially to a limited group in the United States on Facebook's mobile app, website and television apps, the company said.
"We've learned from Facebook Live that people's comments and reactions to a video are often as much a part of the experience as the video itself", wrote Daniel Danker, Facebook's director of product in a blog post.
The new Watch Tab will start to roll out to a limited number of people in the USA, and the plan is to bring it to more people soon.
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Facebook debuted a feature to take on TV companies and streaming services like Netflix and YouTube today with the launch of Watch. It's already become a powerhouse in serendipitous video discovery via the News Feed, and Watch will surely provide enough suggestions to get people hooked on shows they weren't expecting.
There's also Nas Daily, a show where the rapper Nas makes videos with his fans, and Kitchen Little, a show where kids tell professional chefs how to cook based on DIY videos they watched. Eventually, Facebook says it will rollout 'Shows, ' the platform for episodic content, to all content creators. Categories will include "Most Talked About", "What's Making People Laugh" and "What Friends Are Watching".
Reuters reported in May that Facebook had signed deals with millennial-focused news and entertainment creators Vox Media, BuzzFeed, ATTN, Group Nine Media and others to produce shows, both scripted and unscripted. One Major League Baseball game will also be broadcast live on the platform each week. A Watchlist will help users keep track of programs.
At launch, Watch is available to a limited number of USA users.
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