According to Facebook Vice President for media partnerships Nick Grudin, they are hoping to release the series sometime this summer. “Our goal is to make Facebook a place where people can come together around video,” he told AFP.
Facebook will reportedly spend up to $3 million to produce each episode of their yet to be named series. In comparison, Mic estimates an average episode of HBO’s popular Game of Thrones series to cost around $6 million. That being said, Facebook’s budget isn’t bad at all considering that it’s a newcomer to the lucrative industry.
Through this effort, the social media giant is looking to build a system where content creators are paid for uploading their works on Facebook.
Aside from the shows, Facebook is also delving into the gaming industry. Just last month, they announced a partnership with the Electronic Sports League (ESL) where they could live-stream major events of Counter-Strike: Global Offensive.