Facebook CEO Mark Zuckerberg Spills Plans About Video Strategy; To Compete with Netflix and YouTube?

Facebook CEO Mark Zuckerberg revealed during an interview with Q4 Earnings Call that he is planning to focus more on videos than before. Will this be a start of competition against video-themed networks and websites such as Netflix and YouTube?

Apparently, Facebook has become the staple in every individual's smartphones and gadgets. The power of social media continues to rise as the technology advances over the years.

But since the platform has been the outlet to enjoy videos as well, the CEO believes that investing in such market will be beneficial to both the company and the users. According to Tech Crunch, the company would start paying video makers through ad revenue sharing.

"We're focusing more on shorter form content to start," Zuckerberg said. However, he said that they will be taking the path step by step and will not jump directly into setting up TV boxes and building up a new network.

Videos as a Megatrend

"Over the longer term...people will experiment with longer forms of video as well as all kinds of different things." So far, the Facebook CEO somehow sees that the videos will be a "megatrend in the future."

Furthermore, CFO David Wehner concurred the decision. So far, the plan will kickstart by having a separate video tab in the newsfeed. In that way, Zuckerberg explained that users who would like to watch short video contents may go directly to it without browsing all over the newsfeed.

Facebook has been popular since its debut in 2008. According to Statista, there are 1.79 billion users all over the globe as of the third quarter of 2016.

Recently, the famous social media platform released a new feature called the Facebook Live, wherein users can film and share videos of themselves or of events surrounding them real time. While this might be a new beginning, the public should expect more of what is bound to change in how to use the platform.