According to a report by Wall Street Journal, Facebook is rumoured to spend a total of US$1 billion over the next year on an original programming to drive more engagement.

The social media giant is said to produce content on its newly launched platform for shows, known as Watch. It has already debuted with an eight-episode documentary series about Real Madrid.

Facebook has also been stepping up its game when it comes to video, proved by its largest bid of US$600 million to win the digital streaming rights of IPL, but lost to Star India.

So, while the social media platform has a long way to go to match up with the ever-popular Netflix, the streaming platform is also facing some challenges. Apparently, Disney has announced that it is pulling its content from Netflix in order to roll out a streaming platform of its own.

Source: The Drum