Facebook is getting in the video streaming service with Facebook Live.
The company has spent $50 million on media company and celebrity contracts, which will get them video footage that will be available to all Facebook users. According to a Wall Street Journal report companies like CNN, the New York Times, Mashable, Huffington Post, and more have signed on. On the wave, celebrities like Kevin Hart, Gordon Ramsay, and Russell Wilson have also signed. BuzzFeed came out with the biggest contract ahead of the Times and CNN. Per the report, BuzzFeed is slated to receive $3.05 million for broadcasting live between March 2016 and March 2017.
In a press statement, Facebook shared:
“We announced in March that we’re testing different ways to support partners as they begin experimenting with Facebook Live. We have an early beta program for a relatively small number partners that includes a broad range of content types from regions around the world. As part of this early test program we’re working with these partners to offer temporary financial support to encourage experimentation with this new format.”
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