Facebook Inc announced on Wednesday it would collaborate with major news programs to bring content to Facebook. These programs will be presented by the likes of Anderson Cooper of CNN, Shepard Smith of Fox News, and Jorge Ramos of Univision.
This is in an effort to improve the credibility of the news that circulates on the social media platform. The Facebook corporation is also hoping this move will attract more advertising dollars as they faced declining ad revenue in the recent past. The strategy banks on the fact that CNN, Fox News and Univision appeal to a diverse array of people.
ABC News, Alabama Media Group, and other news websites will partake in this new venture. Some shows will be broadcast daily while others will be on a less frequent basis. Facebook will share ad revenue with the companies in addition to paying them to produce the programs, Brown said.
“We tried to assemble a diverse set of partners who are already doing quality news who are also really adept at engaging the audience,” Brown, a former television anchor, said in an interview.
Facebook is becoming increasingly reliant upon video as a source of advertising revenue. Profits from monetizing news feeds has become scarce. Youtube, Snap Inc (snapchat) And Twitter Inc are major competitors for advertising revenue.
“Facebook’s very committed to making Watch happen, and they want to bring content that they think will do well both for the publishers and for advertisers,” Jason Ehrich, Fox News senior vice president, said in an interview.