Facebook hires BuzzFeed, Vox to make original video content
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Facebook (NASDAQ: Facebook [FB]) has reportedly commissioned a number of companies including Vox Media and BuzzFeed to produce original content for its upcoming video service.

The social network appears to have copied the approach of Instagram, Netflix (NASDAQ: Netflix [NFLX]) and Amazon (NASDAQ: Amazon.com [AMZN]), which own some of the content produced exclusively for their online platforms.

As well as Vox Media and BuzzFeed, Facebook has hired ATTN, Group Nine Media and others.

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Their shows will be available on Facebook's upcoming video service, which will feature long and short-form content with ad breaks, sources told Reuters.

The sources said Facebook will offer two tiers of video entertainment: scripted shows with episodes up to 30 minutes, which it will own; and shorter scripted and unscripted shows with episodes lasting up to 10 minutes, which Facebook will not own.

Facebook will reportedly pay up to $250,000 for a 30-minute scripted episode.

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The social network will reportedly pay up to $35,000 for the shorter episodes as well as giving the creators 55 percent of ad revenue.

Both the long and shorter episodes will run ads.

A Facebook spokeswoman declined to comment on the report.

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