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With Netflix-Sized Dreams, Facebook Hires MTV Executive to Create Original Content
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Earlier this week, it was discovered that social media giant Facebook has hired—or, really, poached—an executive from MTV to help create original video content.
Mina Lefevre, a former MTV executive vice president, will join Facebook as its new head of development. She naturally made the announcement on her Facebook page, saying “I have always been drawn to the idea of building something and the idea of being part of the team that helps build Facebook's original content ecosystem...well, that just seems like a dream!”
At MTV, which is a subsidiary of Viacom (VIA - Free Report) , Lefevre was the head of scripted programming, and working on hit shows like Faking It, Awkward, Finding Carter, Scream, Teen Wolf, Nicole Byer, Mary + Jane, Sweet/Vicious, and The Shannara Chronicles. At Facebook, she’ll be overseeing the development of the site’s scripted and unscripted content, as well as working with global creative strategy head Ricky Van Veen, who joined the company last year. Van Veen is also the co-founder of CollegeHumor.
It’s well-known that Facebook is dedicated to making video a central part of how users experience its site, whether on mobile or desktop. CEO Mark Zuckerberg even said during the company’s last earnings call that Facebook is beginning to experiment with shorter, episodic videos to push into its News Feed. And, its Facebook Live feature has been a huge success for the company, especially after this past election year.
And because of its success, Facebook has had to figure out ways to monetize this new source of revenue. Ms. Lefevre’s hiring is both a way for the company to capitalize on this content, as well as keep its users engaged with the site. Creating original content that could compete with the likes of Netflix (NFLX - Free Report) , Amazon’s (AMZN - Free Report) Prime, and Google’s (GOOGL - Free Report) YouTube would allow Facebook to sell ads in a whole new, uncharted area for the tech giant.
Interested in the other top stories of the week? Listen to Zacks Friday Finish Line to catch up on the week’s financial and investment news.
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With Netflix-Sized Dreams, Facebook Hires MTV Executive to Create Original Content
Earlier this week, it was discovered that social media giant Facebook has hired—or, really, poached—an executive from MTV to help create original video content.
Mina Lefevre, a former MTV executive vice president, will join Facebook as its new head of development. She naturally made the announcement on her Facebook page, saying “I have always been drawn to the idea of building something and the idea of being part of the team that helps build Facebook's original content ecosystem...well, that just seems like a dream!”
At MTV, which is a subsidiary of Viacom (VIA - Free Report) , Lefevre was the head of scripted programming, and working on hit shows like Faking It, Awkward, Finding Carter, Scream, Teen Wolf, Nicole Byer, Mary + Jane, Sweet/Vicious, and The Shannara Chronicles. At Facebook, she’ll be overseeing the development of the site’s scripted and unscripted content, as well as working with global creative strategy head Ricky Van Veen, who joined the company last year. Van Veen is also the co-founder of CollegeHumor.
It’s well-known that Facebook is dedicated to making video a central part of how users experience its site, whether on mobile or desktop. CEO Mark Zuckerberg even said during the company’s last earnings call that Facebook is beginning to experiment with shorter, episodic videos to push into its News Feed. And, its Facebook Live feature has been a huge success for the company, especially after this past election year.
And because of its success, Facebook has had to figure out ways to monetize this new source of revenue. Ms. Lefevre’s hiring is both a way for the company to capitalize on this content, as well as keep its users engaged with the site. Creating original content that could compete with the likes of Netflix (NFLX - Free Report) , Amazon’s (AMZN - Free Report) Prime, and Google’s (GOOGL - Free Report) YouTube would allow Facebook to sell ads in a whole new, uncharted area for the tech giant.
Interested in the other top stories of the week? Listen to Zacks Friday Finish Line to catch up on the week’s financial and investment news.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>