After the success of auto-play videos, Facebook is now looking to expand its video streaming services. 500 million users access videos on Facebook each day. A 100 million hours of video are now being accessed every single day. Mark Zuckerberg said “We’ve been testing new experiences like suggested videos which enables people to discover more videos they might be interested in. We’re also exploring ways to give people a dedicated place on Facebook for when they just want to watch videos”.
According to COO Sheryl Sandberg, “What we’re seeing is that users are generating a lot of really high quality content, often pretty short-form, that people are really happy to consume. We believe that trend will continue because we’re at the very beginning with people really understanding the power of the smartphones,”. Increasing video consumption is helping Facebook’s advertising revenues too, and this is expected to grow rapidly.
Source: Digital Europe