Facebook Is Planning to Spend as Much as HBO on Original Content
HBO's slogan "So Original" is becoming less and less accurate. More and more, networks are focusing on high-quality original content. From Netflix (NASDAQ: NFLX) to FX, top-notch original programming is becoming a necessity for attracting audiences -- who are spending less time watching television, and more time watching videos on YouTube (which falls under the Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) umbrella) or browsing any number of content feeds supplied by Facebook (NASDAQ: FB).
But Facebook CEO Mark Zuckerberg appears eager to push things to the next level, increasing the time users spend watching videos on Facebook instead of on TV or some other platform. In order to attract viewership, his company is reportedly willing to spend as much as $1 billion on original content for its recently launched Watch platform. For reference, HBO (a subsidiary of Time Warner) spent $1.1 billion on originals and sports rights last year.
Image source: Facebook.
Source: Fool.com
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