>> Facebook tried captioned video, live video and now it's going for more polished programming, enlisting the help of Buzzfeed, Vox, and other media groups catering to millennials. As first reported by Reuters, Facebook has signed deals with several media companies to produce videos for the social media network, according to sources familiar with the situation.
Reuters Facebook correspondent David Ingram.>> Facebook wants these shows for the video tab, specifically on their mobile app, where they're increasingly emphasizing video. And this is gonna be original content that will be, some of it will be short form, five to ten minutes. Some of it will be longer, 20 to 30 minutes.
The big picture here is they want to be the new TV, the new ABC, NBC, CBS, FOX, Facebook essentially is the idea.>> The content deals put the social media giant in a head-to-head fight for video advertising dollars with YouTube Red, SnapChat's Discover, and traditional TV networks. And in a larger sense Netflix, Hulu, and Amazon, which use a subscription-only model to distribute content.
Facebook paying up to $250,000 for longer, scripted shows, and up to $35,000 for shorter ones, according to several sources. To lure content makers, creators get to keep 55% of the ad revenue generated from their shows, and will eventually retain control of where the content can be viewed after an exclusive run on Facebook.
The company declined to comment about the deals, but Mark Zuckerberg has made it clear to investors that video is the next big area of growth. And with this, Facebook may be looking to get better control of its content, after a number of Facebook Live videos showing violent crimes put its video aspirations under a harsh light.