Publishers of live video on Facebook have said that Facebook is “de-emphasizing live video” when they spoke with them, and don’t expect Facebook to renew deals they made last year.
Facebook spent more than $50 million last year paying publishers and celebrities to create live video on the social network.
It now appears that Facebook wants its video publishers to create a longer, more premium video content as part of an effort spearheaded by Facebook executive, Ricky Van Veen.
According to Kurt Wagner of Recode, “The hope is to get more high-quality video onto the platform and into your News Feed — the kind of stuff, presumably, you might find on Netflix.”
Last year, Recode reported that “Van Veen is having discussions with some creators to license TV-style shows. Those deals might make sense for companies that already make long form videos, like TV studios and movie houses, but it’s unclear if digital publishers that are part of the live video program will be paid to make the kind of stuff Van Veen is looking for.”
Vox Media, the company that owns Recode, is a current Facebook Live partner. Recode reported that “Facebook is still spending millions of dollars on a massive advertising campaign around Facebook Live, but that campaign is targeting regular users, not publishers or celebrities. Most of the paid deals Facebook signed last spring were one-year agreements, and while it’s certainly possible Facebook could still try and renew some of them, multiple publishers we spoke with said they wouldn’t be interested in signing a new deal even if Facebook offered one.”
Big publishers like BuzzFeed have received as much as $3 million dollars for live videos.
According to Recode, “The New York Times assigned seven employees to its Facebook Live efforts. Publishers we’ve talked with say they will continue to make live videos for Facebook and other platforms, like Twitter and YouTube, but they’ll scale back their efforts.”
Recode reported that some sources have said, “Facebook never intended for these paid deals to be a long term solution to getting live content, but now it’s pulling that subsidy without a clear revenue alternative in place.”
H/T: CNBC Recode
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