Facebook launching its new watch page Thursday. The social media giant now the latest place to view original scripted series in the US. Reuter's Media correspondent Jessica Tonkel.>> Think about TV online. So they have hundreds of shows ranging from traditional media like Discovery, Animal Planet, To more digital, refinery 29 has a show, or the Cincinnati Zoo has a show about a baby Hippo.
>> And it's at no cost to the consumer. The business model behind it is to steal ad revenue from Google on YouTube as more advertisers shift dollars from traditional TV to online platforms. Creators submit shows for approval. If selected, they receive 55% of the ad revenue. Facebook is also initially paying a handful of creators for their series in order to drive interest to the page.
Facebook scripted content comes at a challenging time for YouTube, which has seen some advertisers pull their spots after they popped up near extremist videos. It also comes amid increased cord-cutting. Americans spend more than 73 minutes a day watching digital video, up more than 7% than last year, while TV watching has dropped more than 2%.
>> Facebook theoretically could be much more targeted than the television can with its ads right now. So, you know, it's an interesting frenemy situation, once again between traditional media companies and Facebook because the media companies are creating content for Facebook, but also, they have to be worried about what this means for the television landscape.
>> Facebook is also hoping its social media gives it an edge as viewers can create communities and engage in dialogue when watching.