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The world's biggest social network Facebook has decided to launch a television service - 'Facebook TV' which will be displayed in Facebook's video tab outside the news feed.
The new addition to the social media giant is a streaming service that will telecast a 5-10 minute show, reports said.
The shows will be owned by media companies partnering with Facebook. Some of these partners include Group Nine Media, BuzzFeed, ATTN and Vox Media.
Facebook will be entitled to 45 per cent revenue from these shows. The company is also planning to launch shows which would be owned by "Facebook TV", the social network proposes to run 20-30 minute shows on its network.
Facebook will not compete with Netflix or HBO, but will instead offer content that aims to make something higher-end than Google's YouTube, Bloomberg reported.
The company has asked its partners for the first episode of the spotlight shows.
Facebook plans to launch its streaming service next month in mid-August.