Earlier this spring, Facebook announced that it has begun creating its own video entertainment, and will soon be bringing users shows, available exclusively on the social media platform.

Will it be just like Netflix? The short answer is, no. But maybe sort of. Here are 4 things to know about Facebook’s new shows:

1) There Will Be Ads

Unlike watching Netflix, viewers watching shows on Facebook will have their content broken up by ad breaks. (Boo). Whether they’ll be placed within the shows like they are on traditional TV, or simply between episodes such as ads at the beginning of videos on YouTube, remains up in the air.

But just be aware that it ain’t no Netflix, peeps. It’s a whole new ballgame. Hopefully the ads will be as entertaining as the shows, but going are the days of the wild west in ad-free internet surfing.

2) It’s All Aimed at Millenials

Facebook is aware that some of its key users are millenials and it loves this fact. In keeping with this, the social media platform signed deals with news and entertainment creators that focus on this age group, namely Vox Media, BuzzFeed, ATTN, Group Nine Media, the holding company for Thrillist, NowThis, The Dodo, and others.

These guys will be, or currently are, creating content to watch on your phone, tablet or computer, wherever you wish, and it’s kind of fun to think what these creators will come up with.

How do you transform 29 Things Everyone With a Vagina Should Definitely Know into video content?

Should be interesting.

3) There Will Be 2 Types of Content

Videos  will be featured in long and short formats. The long stuff will be comprised of scripted 20-30 minute shows. This will all be owned by Facebook. The shorter content will be about 5 to 10 minutes long and will be scripted and unscripted, and not owned by Facebook.

4) Creators Will Get Revenue From the Ads

The creators of all this wonderful content coming to Facebook will receive 55 per cent of the revenue generated by the ads shown with it, according to recent reports.

Facebook says it’s getting set to pay up to $250,000 per ‘episode’ for longer, scripted shows that the platform will own, and from $10,000 to $35,000 for each piece of shorter content. So, get writing.

The question is, will viewers have to pay something to watch it, like a monthly subscription? No word on that, yet. In an awesome world, no, but seeing as the strategy Facebook is adopting is similar to that followed by other subscription-based video services, it’s seems like it’s possible.

For the moment, keep reading your favorite blogging content and stay tuned.

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