The social media giant in a blog post earlier, announces that is has taken the wraps off of an application that helps creators manage their Facebook presence. The app has seen its iOS version release first, with its android counterpart coming in the days ahead.
Facebook says that the major tabs the app will contain will be a Live Creative kit (that will assist creators with lot of personalized features to go live), a Community Tab (to help users connect with others in their community), Camera and Stories (that equips users with inbuilt camera effects) and Insights (showing users analytics and metrics including page views and others). In addition to the app, Facebook has also launched a resource website for creators to help them make better, more relevant and appealing videos. The ultimate aim behind this move is to compete with (and ultimately beat) Google’s YouTube service.
Why make the move to video now?
As the number of people abandoning conventional cable broadcasting services reduce, streaming services and original online content are the new wave and as with every other proactive company, Facebook has identified this trend and is moving along with it, instead of bucking it.
Their shift to video also has a part to play in their bottom line as well, as the company eyes more ad revenue via video (advert revenue accounting for more than 95% of Facebook’s revenue till date).
Facebook released a new tab known as “watch” in August that is dedicated entirely to viewing video content and brought on a host of content creation companies like Vox and Buzzfeed to produce original videos for its service.
One thing to note however is that however profitable the move to video might turn out in the long run, the sector is extremely competitive and cutthroat. YouTube right now is basically a metaphor for video by itself and other companies like Amazon, Netflix and Hulu are also deeply entrenched in this field, none looking to give up any market share without a fight.
Presently though, Facebook Stocks are doing very well, outperforming the industry average in the last year having increased 53.5% compared to the industry gain of 24.9%.