Here's why Facebook is focusing on TV-like content (FB)

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Facebook announced Watch, its platform for TV-like shows. With the launch, Facebook is also introducing Show Pages — which is the equivalent of a Facebook Page but for shows. Users can see other users’ comments and interact with each other while watching Shows.

Creators can monetize their shows through ad breaks or by creating sponsored content. Watch will be available on mobile, desktop and Facebook TV apps to a select amount of users in the US before rolling out more broadly.

The Watch tab is a big bet by Facebook to attract eyeballs to its platform, and poses a threat to YouTube, Snap, and traditional TV. The release of Watch is significant for Facebook for the following reasons:

It builds out an entirely new "lean back," TV-like experience on Facebook. The social network has made moves to become a video-focused platform previously, but the Watch tab marks its most significant effort to do so. This is one of the biggest turning points in the convergence of TV-like programming and digital video. Recently, we’ve seen CNN invest $40 million in Great Big Story and Vice and Buzzfeed produce shows for TV, as part of this trend.
Watch will host a variety of content, but Facebook appears to be playing it safe. The initial catalog seems focused on content with proven appeal. Launch partners include NASA, Mashable, Quartz, and Hearst, according to AdWeek. Sports programming including games from the MLB and NBA content will also be available. However, it seems like Watch won’t yet feature the type of content that can compete with programming on TV or Netflix.
Watch viewership will also benefit from News Feed discoverability. Shows will be surfaced in the News Feed if a publisher posts it, or if a user’s friends are talking about it. Additionally, Facebook counts over 2 billion monthly users, higher than YouTube’s 1.5 billion logged-in monthly users and Snap’s 173 million daily users.
It helps Facebook’s effort to attract TV ad spend. Having more TV-style show video content provides premium inventory for the social network to pitch to TV brand advertisers. Moreover, mid-roll ad breaks are essentially the same ad format as those traditional TV.