Facebook has focused on establishing its video platform with a force that’s catapulted it to more than 4 billion video views per day as of April and recently it made two major announcements that make it a more serious contender for video ad dollars. For Facebook video success, there are still two big challenges to deal with – Original Content and More Incentive for Creators.
Original Content
If Facebook wants to punt YouTube out of the way to become the “best place to share, discover, and watch videos” it needs a lot of high-quality, original content. Right now it’s struggling with the “original” part. People with huge Facebook followings have a nasty habit of lifting viral videos from other sites and uploading them to Facebook for their own gain. Although the social network will remove uploaded content that violates intellectual property rights, it hasn’t done much to prevent it. YouTube solved this problem with Content ID, a software that monitors all uploads against a database of registered intellectual property. It will either remove the content or let the original creator collect ad dollars from it. Until Facebook releases its own solution, it can’t roll-out a wide-scale monetization strategy like pre-roll ads, without the risk of having content thieves taking advantage of it.
More Incentive for Creators
Facebook also needs to prove to potential video creators that it can help them make real money. At first, it’s testing its revenue-sharing model with a handful of brand partners like Funny or Die and the NBA, and it will need to open that program up to attract the consistent stream of uploads. YouTube has managed to entice top advertisers through its “Google Preferred” program where it pairs them with its most popular channels. As Facebook moves towards video monetization, it needs more than grainy, homemade Ice Bucket Challenge videos……
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