Online video streaming is going through another rapid revolution as traditional TV continues to decline, the competition between streaming services is at an all-time high. Last season alone, all five major broadcast networks saw a dip in viewership, while streaming services committed about 20billion to their own original programming. More impressively, the original content on streaming services like Netflix and Hulu are beginning to outperform traditional cable shows. For example, Hulu’s Handmaid’s Tale stole the show at this year’s Emmys and won a total of 8 awardsincluding the coveted ‘most outstanding drama series’. As more consumers begin to cut the cord and find their entertainment on the internet, social media platforms like YouTube, Facebook, and Twitter are seizing this opportunity to follow in the footsteps of Netflix and Hulu, to create their own original content. Here’s how:

YouTube Red

The video platform that launched the streaming age back in 2005 is shifting its strategy and its resources into its YouTube Red service to host more premium and original content. YouTube Red has already begun producing its own original shows, like romantic comedy Foursome or the science documentary series, Mind Field, however, neither show gained the audience to compete with shows on Netflix or Hulu. To turn this trend around, YouTube is adopting a three-part initiative to produce different kinds of original content for its 1.5 billion monthly viewers. The first initiative will include unscripted and original content from superstar celebrities. YouTube has already secured content like Demi Lovato’s upcoming documentary, James Corden’s new show Training Days, and Ellen DeGeneres’ new show Ellen’s Show Me More. In addition to celebrity-focused content, YouTube Red’s second initiative will include a variety of scripted series from popular YouTube creators like Rudy Mancuso and Anna Akana. Finally, YouTube is looking to host, and eventually produce full-length feature films. To kick off this final initiative, YouTube Red was able to beat out both Netflix and Hulu to pick up the highly anticipated Super Size Me 2.

Facebook Watch

Earlier this year, Facebook revealed its new Watch tab as its official shift in strategy into the premium video market. Originally, Facebook targeted publishers, celebrities, and top YouTube personalities to create original content. Buzzfeed, ATTN, and Refinery29 have been some of the first brands to test this new viewing format. Now, with a projected budget of over $1 billion for original content in 2018, Facebook is turning its attention toward Hollywood studios and agencies in order to produce longer, TV-quality shows. Similar to the strategy of Netflix and its success with House of Cards, Facebook is looking for its own original monumental hit and is willing to spend up to $3 million an episode for this opportunity. To encourage fan interaction, episodes will be released once a week on the show’s official page where fans can chat and react, instead of dropping entire seasons at a time like Netflix. Facebook Watch will also use this massive budget to tap into a sporting audience and has already inked deals with the MLB and, most recently, the NFL, to air official game recaps, highlights, and original programming.

Twitter Live

A much quieter, yet worthy competitor within the video streaming space is Twitter and its narrow focus on live video. Buzzfeed, Bloomberg, and Filmfare along with 35+ other programming partners will bring hours of exclusive content in addition to live original shows, professional sporting games, and events to Twitter’s 328 million monthly users. Twitter has already established deals with the MLB, NFL, and NBA to air either games or original programming. Bloomberg already simulcasts three news programs a day and Cheddar streams several hours a day. Recently, Twitter announced that it has partnered with cable network, Fox and will even premiere it’s new show, Ghosted. As part of the deal, Twitter will post the episode several days before it airs on TV and will hold an exclusive Q&A session with the show’s stars as it air on TV. Unlike Facebook and YouTube, Twitter is limiting its content creation to larger media brands and will not look to support other user-generated content.

Credit to Original Article Posted on 10/10/2017 by Ally Mnich