Facebook taking on the world of TV and video

Greenville, S.C. (WSPA) — Facebook Inc. is looking to expand into a booming business. Facebook is in the works of closing deals for their own creation of a video series scheduled to appear later this year.

According to Bloomberg Technology, TV’s advertising market is worth $70 billion. Bloomberg also says Facebook hopes this launch will entice companies to upload their own video, which would allow Facebook to siphon advertising money away from TV.

Two shows have been announced so far, including a reality series and a comedy show.

Once it launches, content will be available on an upcoming Facebook video tab.

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