Facebook to introduce premium TV shows next month

Facebook the social media giant is now reportedly making a move into the television domain. According to a recent report, the company is supposedly in the process of producing and showcasing around "two dozen" shows. Further, the report notes that the company has plans to premiere the shows in mid-June.

Business Insider notes that the shows will be divided into two tiers. First a small number of longer, prestige shows and secondly a low tier show which will be a 5 to 10-minute show and less budget show. This low-cost show will appear on Facebook app's video tab every 24 hours.

Facebook is also focusing on producing more teen-centric shows apart from the range of content that the company has planned for. And more importantly, it seems that the company has already signed A-list celebrities to star in some of the shows.

Well if the company does introduce such feature then it might just prove to be a major growth opportunity for Facebook. Considering the company will have added space to show more ads in the News Feed. Moreover, the company will also have direct control over the content that appears on the on the platform.

However, this news comes in the midst of heavy competition between companies like Amazon, YouTube, and Snapchat who are trying to "secure their own premium video programming."

Alternatively, Facebook is aiming to retain its users by introducing this new feature and also generate a source of revenue from brand advertising which traditional televisions usually benefit from.