Facebook may soon be making a big push into the TV market.Â
The social network is working on a video app for set-top boxes, like the Apple TV, that would feature “TV-quality” shows licensed by the company, according to a new report in The Wall Street Journal.
Though Facebook has spent much of the last year pushing live video, the company is reportedly sees the new app as a place for longer, higher quality content. Facebook is currently trying to make deals with major studios to produce content for the yet-to-be released app, according to the report.
The longterm goal of the app, of course, would be to boost ad revenue. Besides having a new platform to surface ads on, the app would help the company tap into a new ad market, as The Wall Street Journal points out. And longer, more “premium,” video content commands much higher rates than the shorter videos that make up much of Facebook’s existing content.Â
Notably, Facebook also updated its News Feed last week to place a greater emphasis on longer videos. The company is also testing mid-roll ads (ads that play in the middle of a video, as opposed to pre-roll, which play at the beginning) that kick in after 90 seconds.Â
It’s not clear when such an app may launch but it has apparently been in the works since last summer, when Facebook began a renewed push into video, according to the report. That also lines up with the company’s hiring of College Humor cofounder Ricky Van Veen, who was tapped to lead “global creative strategy” and help Facebook develop original programming.Â