Web giant Facebook will soon start paying for its own video content.
The company revealed that it is in talks with TV studios and other video producers about licensing shows, which range from scripted shows to game shows and sports.
The move is aimed at boosting the social network’s video.
College Humor co-founder Ricky Van Veen who joined Facebook early this year is leading the talks.
It is estimated that some livestreaming deals are for more than $1 million a year, which is nowhere near what traditional TV networks or streaming services pay for top-tier programming.