Facebook is talking to Hollywood studios and agencies about producing TV-quality shows, with an eye toward launching original programming on its platform by late summer, the Wall Street Journal reports, citing people familiar with the matter.
In discussions with major Hollywood talent agencies, the company has indicated that it is willing to commit to production budgets as high as US$3 million per episode, the report said.
Facebook is also interested in more moderate-cost scripted shows in the mid-to-high six-figure-per-episode range, according to the sources.
The company will be aggressive about trying to own as much of that content as possible.
The push for TV shows is part of a two-track effort at Facebook to up its game in video and target the tens of billions of ad dollars spent on television, the Journal said.
Facebook also is said to be seeking short-form content, primarily unscripted, that could run for 10 minutes in the Spotlight section for videos.
The social network is guaranteeing creators of short-form fare a minimum US$5,000 to US$20,000 share of ad revenue per episode, according to the report.
Facebook has told people in the industry that late summer is a bit of a moving target for launch.
The company hopes to target audiences from ages 13 to 34, with a particular focus on the 17-to-30 range.
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