Facebook has been on the cutting edge of social for many years now. With billions of users and advertisers paying millions every day, this is certainly a platform that should be taken notice of. Their latest move sees them take on Youtube in video.
The global corporation is to start paying video-makers for uploading their clips to the platform.
This is going into a ‘Suggested Videos feed’ that will share popular videos (directly battling against Vine and Youtube). With no need to leave Facebook, it is becoming a platform where people can spend their whole time on the internet. News alerts, friends, videos, photos…it is an impressive target. It’s a similar strategy that Google is taking and it definitely appears Facebook and Google will become more direct competitors.
Google’s ownership of Youtube means that it really wants people to be spending as much time on those platforms. However, if people can watch their favourite videos while on Facebook then it could impact Google quite a lot.
In June, US broadcaster HBO announced it would stream some of its programmes on Facebook. Offering a cash incentive could encourage more publishers to upload on the platform. When I first heard about this, I thought it would be more of a Youtube style platform, but offering programmes as well really starts to challenge lots of media outlets. Facebook can be seen as being quite aggressive in its aim to really keep people on its platform, however, if they offer a better service then it’s the customers who will benefit.
One of the important things to consider is the power the everyday man has now. As a business, you need to be taking advantage of these platforms. It doesn’t matter if Facebook or Youtube wins the battle, you need to decide what platform is better for your business and be present there. It’s as simple as that!