Facebook's push into video has taken on many forms over the past year, with more emphasis on native video hosting on their own website initially, and moving on from there to harness the growing popularity of live video streaming and 360-degree video content. The latest move from Facebook revolves around Facebook Live, their official live video platform. According to a recent report, Facebook has scored a deal with celebrity talent and various media companies for Facebook Live which will see a slew of new content created for the platform in the future.
The report states that the deal gains Facebook a contract with around 140 different media companies including the likes of CNN, The New York Times, Vox Media, Tastemade, Mashable, and others. In the celebrity camp, popular celebrity chef Gordon Ramsay is among the stars who will end up creating original content. Other celebrities include comedian Kevin Hart and Deepak Chopra. Although content creators can already publish their content to Facebook Live, Facebook has yet to lay out a solid plan for compensation, having only just started paying content creators to entice them to bring content over to the platform. With this new deal in place Facebook will have the means to gather a larger collection of live content for viewers as they still have room for plenty of growth to catch up to other companies who are established in the live streaming market.
Facebook is prepared to shell out more than $50 million in total for the contracts, with publishers like Buzzfeed slated to make $3.05 million between Marsh of this year and March of next year for their live broadcasts. Other media companies like CNN and The New York Times also stand to make quite a bit from their contract, set at $2.5 million and $3.03 million respectively. The goal for Facebook is to see what does and doesn't work for the platform. According to the report, the value of each contract is based on the popularity for those publishers on Facebook, which could prove to be the value that Facebook may place on contracts with other content creators, if they choose to use this as a pay model. Revenue from ad-share is also a possible pay model for content creators.