Facebook to leverage user-created content?
Right now, Facebook and YouTube are dominating their respective market segments. However, it appears that Facebook has some pretty interesting plans for the future. According to CNBC, the social media giant might soon become a real threat to YouTube. So how would Facebook go about doing this? Well, it might leverage its TV-like “Watch” service in order to rival YouTube’s own content. In order for this to work, the company will have to open up Watch to various users who want to create their own content.
This would also allow them to avoid the high costs of buying rights for a creator’s show. By using an ad-supported, tiered revenue-sharing model similar to YouTube, the plan might actually work.
What about long-term strategies?
In the long run, the plan is to create an ad-supported, self-sufficient video platform that would rely on user-generated content. What does this mean for YouTube? Well, the platform is largely uncontested at the time of writing, which means that improvements might become a requirement soon. As I’ve stated before, competition between large companies is always a good thing for the consumer. Apart from driving innovation and lowering prices, it also gives us variety and choice.
That being said, these are all early-stage discussions. While Facebook might indeed give this plan the green light, it might also scrap it altogether. We’ll just have to wait and see, but we’ll definitely keep you posted as we find out more.
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