Facebook (NASDAQ: Facebook [FB]) has reportedly commissioned a number of companies including Vox Media and BuzzFeed to produce original content for its upcoming video service.
The social network appears to have copied the approach of Instagram, Netflix (NASDAQ: Netflix [NFLX]) and Amazon (NASDAQ: Amazon.com [AMZN]), which own some of the content produced exclusively for their online platforms.
As well as Vox Media and BuzzFeed, Facebook has hired ATTN, Group Nine Media and others.
Their shows will be available on Facebook's upcoming video service, which will feature long and short-form content with ad breaks, sources told Reuters.
The sources said Facebook will offer two tiers of video entertainment: scripted shows with episodes up to 30 minutes, which it will own; and shorter scripted and unscripted shows with episodes lasting up to 10 minutes, which Facebook will not own.
Facebook will reportedly pay up to $250,000 for a 30-minute scripted episode.
The social network will reportedly pay up to $35,000 for the shorter episodes as well as giving the creators 55 percent of ad revenue.
Both the long and shorter episodes will run ads.
A Facebook spokeswoman declined to comment on the report.
