Facebook is working on set-top box streaming video app, says report

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Facebook is working on an video-centric streaming app for TV set-top boxes, according to The Wall Street JournalThe social media giant reportedly has been working on the app, which would be available for devices such as Apple TV and Roku, since the summer of 2016.

The Journal says that Facebook is asking media companies to develop programming in exchange for a licensing fee, similar to Amazon Prime Video or Netflix original content. These are believed to consist of both sports and scripted shows that are up to 10 minutes long.

This follows a previous commitment to not increasing the amount of ads it runs in users’ News Feeds. This new app would give the company other opportunities to do so, as 97 per cent of its overall revenue comes from ads.

Facebook is one of several other social media and tech companies that have doubled down on video content, such as Twitter via live streaming and Snapchat with its Discover feature.

Source: The Wall Street Journal