The stock of Facebook, Inc (NASDAQ:FB) closed at $167.40 losing 2.21% in yesterday’s trading session. Facebook has issued a statement expressing that it might soon make its entry into the online video business. This is a sector that has been dominated by YouTube of Alphabet Inc (NASDAQ:GOOG) for quite a long period of time.
A recent blog post by Daniel Danker revealed that Facebook was introducing Watch on its platform. The company has said that Watch will be available on laptop, desktop, mobile as well as in most o the provider’s TV apps.
Every single show comprises of several episodes. Of course these might be either recorded or live and always aligns to a storyline or theme. Watch has a watch-list in place which helps users follow up each and every episode as stated by some top company officials.
The personalization of Watch is an aspect that allows the various users discover new shows. Most of these shows are usually organized around what communities around one are watching. There are those shows that spark conversation for instance. Most of the users appreciate the aspect of being able connect with friends regarding shows they too are making a close follow up.
Those shows with a lot of fans on Facebook have been singled out as the ones that the product targeted. Facebook has made a declaration that it will indeed be funding the shows that will be appearing on its services.
YouTube is a fierce competitor. It boasts of a large number of visitors each month and all of them enjoy watching tens of billions of videos on its platform. It seems an uphill task for Facebook to match up the kind of traffic experienced by the Youtube.
The several attempts by the two providers to compete with each other turned out to be a total failure. Google+ had been unveiled with great fanfare and the main goal was to have it compete directly with Facebook. Most of Facebook’s ads were directed at users with some particular interests. The two companies have been communicating with each other via Facebook Messenger and G-Chat.