Robert Jones 
Facebook has recently announced that it would enter into a new agreement for funding with European publishers to produce Facebook Watch exclusive programming. It will enable the creation of a video platform solely focused on Facebook Watch content, and with this funding, it hopes to attract European audiences. With its new push, the partners and celebrities who are likely to enter into this association would generate content for the Facebook watch, and thus it aims to lure the audiences in this region with these programs and ad options. Although the video content platform has not yet emerged as a sought after alternative for television, yet its viewership is increasing gradually, more so as Facebook is looking for innovative ways to create a wider audience base.
Facebook has commented in this regard:
We want Watch to be a place where anyone, anywhere, can find the videos they care about. And as video continues to find prominence on social media, we want to further our work with publishers and help them reach more people, engage their audiences more deeply, and build sustainable businesses. One way we are doing that is by rolling out a new initiative where we pair digital publishers with beloved creators and public figures who have established communities on Facebook.
Facebook has plans to fund the the associations between celebrities and publishers in France, Italy, Spain, Germany and the UK at least in the initial stage as it has seen how successful celebrity-led programming has been with “Sorry for Your Loss” with Elizabeth Olsen, “Red Table Talk” with Jada Pinkett Smith and “Ball in the Family” with NBA star Lonzo Ball being recent examples. Therefore it is setting an objective to maximize viewers of the Watch programming through these celebrity-led programs by expanding them in other regions too. It has, therefore, said: “As an initial test in Europe, the idea is to take the creativity and savvy of digital-publishers who make great content and couple it with celebrities, influencers, or personalities that have built up their own, thriving fan bases.” Thus learning lessons from the popularity and success of such programs, Facebook is stepping on influencer marketing, which will eventually generate a renewed interest in Watch.
It would offer not only a partnership with celebrities, but also news programming and other kinds of content, and local celebrities would help to build a local audience base. A few of these watch programs that would be on offer are: “Date Fails” with Conor Maynard, “Ek is back” with Eko Fresh, “Kim’s Famous 5” with Kim Gloss and “Menú a 20” with La Pelo.
Facebook, therefore, seems to be on a diversification spree as it is trying its hands on a variety of ventures, from entertainment to cryptocurrency. Just as it has entered the field of video content platform with Watch, it has also made its debut in the field of cryptocurrency with its digital coin Libra. When it had announced the launch of Libra, several banks had spoken about the impact that it would make on the financial market. JP Morgan Chase, one of the leading banks of the USA, had also planned to launch its digital coin called JPM coin. However, the CEO of company Jamie Dimon has recently expressed that Facebook’s launch of the Libra in 2020 will not affect the bank for some time. Thus it is for time to decide how successful Facebook would be in its various ventures and how it would affect various sections of the industry.