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If there were any doubts how seriously Facebook was taking original video/TV content, this should assuage them: according to a report, the social network is "willing to spend as much as $1 billion" on original video content.

These will sit in the firm's new Watch tab.

It's previously been reported that Facebook was willing to spend $3 million per episode for big shows, and was also interested in commissioning original sitcoms with episodic budgets in the region of six-figures.

While a lot of money in most industries, $1 billion is a relatively small figure in the world of video streaming. It's dwarfed by Facebook's rivals Netflix and Amazon, who are investing $6 billion and $4.5 billion respectively.

Newcomer Apple is also said to be investing $1 billion in original content over the next year.

Facebook's next big investment is in rebooting 'Mickey Mouse Club'. The variety show is returning as a social media-infused reality show called 'Club Mickey Mouse'. YouTube influencers Todrick Hall and Alisha Marie will be on hand to act as guest mentors for the participants.

The show will last seven weeks. Instead of airing one episode a week, the Disney Digital Network will publish around 70 pieces of content for the show a week.

The original show acted as a springboard for such stars as Britney Spears and Justin Timberlake. We'll have to wait and see if the new version spawns such megastars of the future.

Source: The Wall Street Journal, Variety

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