Facebook has launched a new video app for TV that will be available on Apple TV, Amazon Fire TV and Samsung Smart TV – and eventually on other platforms.
With the new app, users will be able to watch videos shared by friends, pages they follow, live videos from around the world and recommended videos based on their interests.
“The confirmation that Facebook is introducing an independent video application, is just another indication of the growing consumption of video content and the importance Facebook is placing on video for its future growth,” said Mick Entwisle, CEO of Genero.
“Brands need to adopt an agile and creative video production process or they’re going to miss out on the huge opportunity this shift to video offers.”
The move could allow the social media giant to compete for TV adspend by giving it the power to run its growing video content on larger screens.
Facebook is also looking to licence original content, which could potentially place it alongside the likes of Amazon Video.
According to an Ofcom report, four in five internet users now watch short video clips online, which Entwisle said highlights the “need for brands to produce short and engaging video content if they are going to have any visibility at all on platforms such as Facebook.”
The app is one of a number of new video updates Facebook announced this week – including automatically playing sound for videos when the user’s device volume is on, larger formats for vertical videos and giving people the option to minimise videos whilst browsing other stories.
The news comes as Facebook reports huge advertising revenue figures, which soared to $26.89 billion in 2016 – up 57% year-on-year.
Of the $8.63 billion in ad revenue recorded in the final three months of the year, mobile advertising accounted for approximately 84% – up from 80% in Q4 2015.
