PHILADELPHIA (CBS) — Hoping to cash in on online video ads, the world’s largest social network is continuing its quest to build a digital video empire.
A full roll-out of “Facebook Watch” is expected this week as the social network ramps up its video strategy. The new tab will house all of its original video.
Facebook is willing to spend big money on video, the Wall Street Journal reports it will spend as much as $1 billion on original shows through 2018.
The network has deals with digital outlets like Vox Media, Buzzfeed, and Group Nine Media, as well as deals in place for streaming live sports and e-sports competitions.
Apple and Snapchat are also spending big bucks and will be rolling out their own original TV shows over the next year.