In a recent event, world’s largest social networking website Facebook signed a deal worth $50 million with media companies and celebrities for Live Streaming services through videos. The entire deal comes as 140 firms including celebrity personalities.
The media companies which have joined hands with Facebook are CNN and New York Times where as digital publisher include Huffington Post, Mashable, Vox Media as well as Tastemade. Celebrities who have shown interest in the deal are wellness guru Deepak Chopra, comedian Kevin Hart, celebrity chef Gordon Ramsay and American Footballer Russel Wilson.
The sole motto to sign up a deal is just a way to encourage publishers to produce high-quality videos for live streaming purposes. The deal will subjugate till the company comes out with an appropriate plan. Also, compensating the creators such as sharing of ad revenues would be subjected under terms and conditions thus producing a steady streaming option.
According to Justin Osofsky, Vice President of Global Operations and Media Partnerships, Facebook, “We wanted to invite a broad set of partners so we could get feedback from a variety of different organizations about what works and what doesn’t.We have an early beta program for a relatively small partners that includes a broad range of consent types from various regions around the world.
The company would start with its operations of live-streaming by paying some of its users or creators whereas few of publishers have acknowledged the payment services. The following step would help in showing the broad aspect of video maker’s effort to promote its Facebook Live streaming services. Moreover, it would further enhance a chance for millions of viewers on the daily basis to pay visit often and for the longer duration to watch videos per hour.
As per records, top 500 Facebook pages posted at least 1 live video eventually maintained by media companies which rose from 11% to 44% in the first quarter. Traditional and digital media have already started pouring in resources into on-line video so as to grab the attention of viewers along with high advertising prices. Partnership for live streaming would help in providing enormous exposure in the provided platform.
The deal with various companies has managed to agree on terms and regulations. The highest paid Publishing firm is BuzzFeed, which has received almost 3.05 million USD for broadcasting live videos. The second position holder is New York Times receiving a whopping amount of 3.03 million USD, and third media company was CNN receiving approximately 2.5 million USD within a time span of 12 months deal respectively.