Facebook Live is Facebook’s live streaming video service and the company has now signed content deals with a number of celebrities and also media companies.
According to a recent report Facebook will be paying around $50 million to have content produced for Facebook Live.
Facebook has apparently signed deals with media companies like Mashable, Vox Media, the New York Time, the Huffington Post, BuzzFeed and more. They have also signed content deals with celebrities like Gordon Ramday, Kevin Hart, Deepak Chopra and NFL quarterback Russell Wilson.
BuzzFeed is apparently the highest paid publisher and as part of the deal they will receive $3.05 million to broadcast content over the next twelve months.
Video is already very popular on Facebook and the company is looking to increase this with its new content deals. Over 100 million hour of video are watched on the social network every day. A number of companies are competing on live streaming, this includes Twitter and more.
Source WSJ