Facebook all set to invest $1bn on original programming in its show platform,Watch

After Apple, Facebook might be next to spend $1bn on original programming over the next year to drive more engagement according to a Wall Street Journal report.

Facebook will aim to produce content on its newly launched platform for shows, Watch, which has already debuted with an eight-episode documentary series about Real Madrid.

Facebook has been upping its game with video recently with its largest bid of $600m to win the digital streaming rights of IPL which it subsequently lost to Star India.

The social media platform has a long way to go to match up to Netflix, which beat subscribers expectations with a jump to 104 million globally, while Amazon's success can be judged from the fact that it posted revenues of £19.5bn this year.

Meanwhile, Disney also recently announced it is pulling its content from Netflix in order to roll out a streaming platform of its own.