Reports of Facebook paying media companies and publishers for Facebook Live content have surfaced in the past, but The Wall Street Journal has details, as well as a confirmation from the social network.
Steven Perlberg and Deepa Seetharaman of the Journal reported after reviewing a document that Facebook has reached nearly 140 agreements with media companies, publishers and public figures for Facebook Live content, with those contracts adding up to more than $50 million.
According to Perlberg and Seetharaman, the social network’s partners include established media outlets such as CNN and The New York Times; digital publishers such as Vox Media, Tastemade, Mashable and The Huffington Post; and celebrities including Kevin Hart, Gordon Ramsay, Deepak Chopra and Russell Wilson.
The values of the contracts vary, with 17 of them worth more than $1 million, Perlberg and Seetharaman reported, adding that the three highest-paid publishers in the document they reviewed were BuzzFeed ($3.05 million from March 2016 through March 2017), The New York Times ($3.03 million for 12 months) and CNN ($2.5 million).
Facebook vice president of global operations and media partnerships Justin Osofsky told Perlberg and Seetharaman that Facebook chose its partners based on their live video track record and ability to “easily produce and test a variety of live programming,” adding:
We wanted to invite a broad set of partners so we could get feedback from a variety of different organizations about what works and what doesn’t.
Readers: What are your thoughts on Facebook paying media companies, publishers and public figures for Facebook Live content?
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