Facebook Spends $1 Billion On Original Series?

Following a report three weeks ago of Apple planning to pump $1 billion into spending for original television series and films over the next year, its tech rival Facebook is following suit.

An anonymous source for The Wall Street Journal says the company is ready to spend up to a billion through the end of 2018 on “original TV-style content”. That number though “could fluctuate based on the success of Facebook’s programming”.

Facebook would likely pump out the content through ‘Watch,’ its new video-aggregation guide which so far has stuck with viral-friendly short-form content and reality shows as opposed to costly high-profile dramas.

Indeed Facebook strategy so far is seemingly more in line with becoming the next YouTube rather than the next Netflix, setting up an ecosystem allowing users to create their own shows and taking a cut of advertising revenue.

It’s unclear whether that potential $1 billion figure includes sports programming deals which the company has bid for in the past.