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Facebook Wants to Be the Next Netflix

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* Two dozen original Facebook shows are set to premiere this summer
* Users will be able to stream the shows on their desktop and mobile Facebook page
* The social media giant is currently budgeting $3 million per each 30-minute episode

Facebook wants to create TV shows, so much so that the company is investing big money and big talent to do it. Facebook execs say they’re planning to launch two dozen original shows next month, which include an American Ninja Warrior spin-off and an MTV-style dramedy called Strangers. You’ll be able to watch these shows directly on your desktop and mobile Facebook page.

While these shows are said to range in theme and format, Facebook is currently targeting audiences between ages 17 and 30 and is allocating a whopping $3 million per each 30-minute episode. That’s a huge amount, especially considering how shows like House of Cards average around $4-$5 million an episode. Even more impressive, Facebook is also reportedly working with Buzzfeed and Refinery29 to produce more bite-sized videos (including 10-minute sketches). Word’s still out on whether these videos will be episodic or one-off shorts.

According to Facebook Vice President Nick Grudin, “We’re supporting a small group of partners and creators as they experiment with the kinds of shows you can build a community around—from sports to comedy to reality to gaming. We’re focused on episodic shows and helping all our partners understand what works across different verticals and topics.”

With Twitter moving into the sports arena, and Facebook looking to take on streaming giants like Netflix, Hulu and YouTube, the future of social media is anything but boring.