The social media giant has told Hollywood studios it is looking for original scripted and unscripted TV content as it prepares to get into the original programming game, reports the Wall Street Journal. Facebook is reportedly willing to spend as much as $3 million per episode for production budgets, which is how much most high-end cable-TV shows cost. The company is also seeking moderate-cost scripted shows with budgets in the six-figures per episode as well as picking up “distressed assets,” or shows the networks are looking to cancel.
Facebook is reportedly eyeing a late summer launch for some of its original programming, but that date isn’t set in stone. The company is just the latest tech giant looking to get into the original programming game. When its original content does launch, it will join the likes of Netflix, Amazon, and Apple, which are already streaming original programming.