Facebook is said to be developing a streaming app for set-top boxes in a bid to rival Netflix.
The Wall Street Journal reported that the social media giant is working on a video-centric app as a means to push forward its video services, both live and scripted.
Facebook already allows its users to livestream video as part of its platform, but will reportedly be looking to create its own content.
The site is apparently “in discussions with media companies to license long-form, TV-quality programming”, meaning it could come into direct competition with the likes of Netflix and Amazon Prime Video - both of which host their own original content.
The move reportedly comes from research Facebook has done regarding what the market wants, with “authentic” content being high on people's’ priority list.
This, combined with the huge success of services such as Netflix, means that Facebook sees this as a natural next step.
As well as original content, Facebook could also be looking to host third-party content on its platform, such as live sporting events and news.
With huge competition from the likes of YouTube and Netflix, it is expected that Facebook’s platform will depend on ads rather than a subscription model.
Another risk sited is that it’s users may not be interested in something that isn’t a purely social experience.
Source: Screen Rant