(Reuters) — Facebook Inc (FB.O) has signed deals with millennial-focused news and entertainment creators Vox Media, BuzzFeed, ATTN, Group Nine Media and others to make shows for its upcoming video service, which will feature long and short-form content with ad breaks, according to several sources familiar with the situation.
Facebook is planning two tiers of video entertainment: scripted shows with episodes lasting 20 to 30 minutes, which it will own; and shorter scripted and unscripted shows with episodes lasting about 5 to 10 minutes, which Facebook will not own, according to the sources.
All of the sources asked to remain anonymous because the deals are confidential.
Facebook’s move to acquire and license original content is the latest in its push to attract more advertising dollars, putting the company in head-to-head competition with Alphabet Inc’s (GOOGL.O) YouTube Red, Snapchat’s (SNAP.N) Discover feature, and traditional television networks.
Read the rest of the story at Reuters.
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