Facebook Unveils ‘Watch’ to Compete with YouTube and the Likes

On Wednesday, Facebook, Inc., an American online social media and online social service giant, revealed a new video platform to take on the likes of Google-owned YouTube, and TV Networks, as part of its plan to expand its video offerings.

The new platform is called “Watch”, and it comes in the form of a video tab in Facebook’s mobile, desktop, and TV apps, which surface channels called Shows with a live or recorded episodic content that follows a consistent theme.

Last year, the social media giant launched ‘Video’ tab in the U.S. which offered a predictable place to find videos on Facebook.

What is ‘Watch’?

Facebook users will see a “Watch” tab on their feeds, allowing them to view a range of shows from professional women’s basketball to a safari show, and a parenting program. They will also be able to create “watchlists,” see what friends are watching and communicate with other people interested in the same videos. Moreover, they can follow the videos made by a favorite artist, brand or publisher like those from Tastemade or Major League Baseball.

Facebook Watch looks more like YouTube, and it will be initially available to a limited group in the United States on Facebook’s mobile app, desktop, and television apps, before making available to more people in the U.S. in the coming weeks, the company said.

Facebook also said it was starting by “testing with a limited group of publishers and creators who are making shows”.

Shows in Watch

The contents will be created by “professional creators,” and others by “regular people in our community,” said Mark Zuckerberg, Facebook CEO and founder.

The shows available in Watch include “Nas Daily,” “Gabby Bernstein,” and “Kitchen Little”.

Nas Daily creates a daily show where he records videos together with his fans from around the globe.

Gabby Bernstein, a New York Times bestselling author and a motivational speaker, uses a mixture of recorded and live episodes to link with her fans and answer queries in real time.

Tastemade’s Kitchen Little is a comedy show about kids who watch a how-to video of a recipe, then direct chefs on how to do it.

Moreover, Facebook has also signed a deal with Major League Baseball to broadcast one live game every week.

“To help inspire creators, and seed the ecosystem, we’ve also funded some shows that are examples of community-oriented and episodic video series,” Facebook said.

Mark Zuckerberg’s Statement about Watch

“We believe it’s possible to rethink a lot of experiences through the lens of building community – including watching video,” said Mr. Zuckerberg.

“Watching a show doesn’t have to be passive. It can be a chance to share an experience and bring people together who care about the same things.”

“That’s why we’re launching the Watch tab in Facebook – a place where you can discover shows your friends are watching and follow your favorite shows and creators, so you don’t miss any episodes.

He added that, “You’ll be able to chat and connect with people during the episode, and join groups with people who like the same shows afterwards to build community.”

Facebook Stock Performance

By 4:30 AM GMT-4, Facebook, Inc traded 0.03%, or 0.05, to $171.18. It opened at $169.98, with a session high of $171.45, and a session low of $169.56. Its market capitalization was 492.61 billion and its P/E ratio was 37.18.

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