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Facebook is in talks with Hollywood studios to start producing scripted, TV-quality shows, and hopes to have them air by late summer, according to a new report.

The social network is reportedly prepared to spend $3 million an episode, it's told Hollywood talent agencies.

It wants to target users aged between 13 and 34, with a particular focus on the 17-30s. Its first two shows are a relationship drama called 'Strangers' and a game show called 'Last State Standing'.

Like Apple Music's recent foray into original series with 'Planet of the Apps', Facebook is expected to release a new episode every week, instead of releasing entire seasons at once for binge-viewing like Amazon Prime Video or Netflix.

The social network is also prepared to share its viewership data with Hollywood.

Facebook has been increasingly targeting video on its platform in recent years, most notably with the launch of Facebook Live, which lets users stream whatever they're doing live to an audience of potentially billions.

Whether it can compete with the likes of Netflix and Amazon Prime Video in terms of scripted content remains to be seen.

Source: Wall Street Journal

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