Facebook calls a halt to paying publishers for live videos
Publishers are bracing themselves for the withdrawal of funding by Facebook for live videos after the social network indicated that it would not renew any of its current partnerships.
Facebook splashed out over $50m last year to selected publishers and celebrities to produce live videos for its nascent feed but a change in policy at Facebook has pushed live video further down the pecking order.
To fill the void Facebook is expected to incentivize publishers to produce longer clips of premium content as it seeks to up its game in a world dominated by successful streaming providers such as Netflix.
According to Recode larger publishers such as BuzzFeed were paid up to $3m to produce content but that the returns on offer weren’t sufficient to justify Facebook Live as a long-term business proposition.
In the meantime the network hasn’t given up completely on Facebook Live, evidenced by the millions of dollars which continue to be pumped into promoting the service amongst regular users.
This strategy recently paid off when an NFL players locker room video went viral.