Facebook is refining the programming strategy for its Facebook Watch video service, pulling back on expensive original shows and sports rights.
Facebook continues to increase its programming budget for Watch—it will rise to around $1.4 billion this year, from the company’s initial $1 billion budget in 2017, according to a person familiar with the matter. But within that amount, it is spending less on costly originals and more on talk shows and licensing clips from TV networks and sports leagues. Meantime, it has pulled back from bidding for rights to stream major live sports, the person said, at least for the moment.