Facebook warns that it will only keep about one third of news shows on Watch

By MixDex Article may include affiliate links

Facebook Watch has reportedly told its digital publisher partners that many of the news series on the video viewing platform are headed for cancellation after just one year, reports Digiday.

• Facebook signed up content providers such as Business Insider, ABC News, CNN and NowThis to offer programming for the platform on a daily or weekly basis.
• Facebook pays the providers to produce the programs.
• Among the programs that launched were BuzzFeed’s “Profile,” “Anderson Cooper Full Circle” and Univision’s “Real America with Jorge Ramos.”
• Facebook has warned publishers that it expects to cancel about two thirds of the programs on the platform, according to those meetings.
• The social media giant reported is willing to spend as much as $90 million a year on news content, but wants to make sure it’s getting the most bang for its buck.
• In addition, reports says the company is also looking for more international partnerships and needs to allot funds for those.
• Facebook is also reducing the budget it provides shows by about 30 percent, according to one show partner whose show was renewed, but is allow the publisher to sell additional ads.
• Previously Facebook would also keep all advertising revenue until it recouped its production cost.
• Going forward, reports say Facebook will take 45 percent of the revenue.
• Facebook maintains tight control over Watch — only select publishers can produce content for the show and take advantage of the one year partnership agreements, unlike platforms such as YouTube that allow almost anyone to start a show.
• Facebook reportedly ran a small test allowing smaller publishers to create content for the platform but it’s not immediately clear if that plan will move forward.