Facebook has announced a plan to put a real emphasis on live video on their social networking site. So big, in fact, that the Wall Street Journal is reporting that Facebook signed contracts with over 140 media companies, in deals near $50 million, to get them to live-stream on the platform.
“We wanted to invite a broad set of partners so we could get feedback from a variety of different organizations about what works and what doesn’t,” Justin Osofsky, Facebook’s vice president of global operations and media partnerships, said in a statement.
Among those under contract is CNN. The third-highest paid publisher, CNN is expected to earn $2.5 million for live-streaming on Facebook from March 2016 to March 2017.