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Is Facebook the new video contender?

Is Facebook the new video contender?

When Mark Zuckerberg speaks, the whole world listens. Not only because he is fluent in Mandarin, but because he is the CEO of the most widely used Social Media network in the world: Facebook.

So, when he says that video will be a much bigger driver in his business than Facebook Messenger, and when it’s reported by Bloomberg that he is close to launching a TV service… the whole TV world starts to rock! A social media network with a TV service? What will it mean for the market?

First things first

After Live streaming videos, Facebook launched Live 360, an app that, with a help of a 360 camera, can make videos in 360 degrees, and then share them on your newsfeed.

Now, Facebook has introduced 4K resolution in Live 360 streams, and Virtual Reality support is also coming and will be available for Gear VR, on the Oculus store.

“We’re excited to see all the great moments you share in 4K with Live 360, and how your friends and followers experience these moments in fully immersive VR,” said product manager Chetan Gupta and product marketing manager Caitlin Ramrakha in a blog post.

And this falls perfectly within the three pillars that Zuckerberg announced in his speech about the future of Facebook: Connectivity, Artificial Intelligence and Virtual Reality.

Video reality

Mark Zuckerberg said, in the company’s second earnings call: “We’re very committed to building it out because [video] it’s what people in the community want. But one of the big things that we’re really very focused on is making sure that we get this right.”

If you add this argument to the fact that Facebook won an Emmy, because of a short-animated film, named Henry, made by Oculus Story Studios, and to the deeper 10-year plan for the Facebook future… you can see that streaming video will be a normal consequence.

According to some news agencies, and Bloomberg, Facebook asked some production partners to produce some short-form shows to be launched via streaming on the social network, in a newly created video section. Basically, user-generated live videos will stream to you at the same time as produced ones.

The question that remains is: Will Facebook be a greater video contender to YouTube, or streaming services as Netflix, Hulu, HBO Now?