Watch: Facebook’s Original Video Service is live now.

The rumor has been running in Facebook’s corridors for a long time: the social network wants to become an online video platform, in order to capture a portion of the advertising revenue of the sector largely dominated by Youtube. This is done with the official launch of Watch.

Though the rumors might have been true in some way, Facebook does not seem inclined to quickly take over or become a Youtube-like platform: Watch only caters for experienced creators, at least for now.

With Watch Facebook wants to become your television

Facebook Watch is in the form of television. Facebook wants you to watch shows on its social network. The reason? Make you stay even longer on its pages and increase its advertising revenue.

Watch will offer exclusive and original content created by experienced creators: the format will be short (the idea is not, for the moment, to compete with Netflix) and some shows will be co-financed by the social network itself.

Creators may decide to advertise (which they will keep 55% of revenues against Facebook’s 45% share) or not. They can also make product placement, but they should be transparent with users and tag the brand in question.

Quality rather than quantity

Publishing a video on Facebook is already open to everyone but the potential for buzz remains limited, unlike Youtube where a video can be seen all over the world. Watch does not pretend to overcome this difference in strategy: this service is destined to become a true television channel with regular programs, short and of quality. In addition, the community will be able to chat live during the episodes, via a chat, and then be able to meet with fans in dedicated Facebook groups.

The NBA, NASA, National Geographic, Major League Baseball and many creators have already signed a partnership with the social media giant. These creators will easily benefit from the 2 billion users of the social network.

What will you do on watch?