Facebook is taking on YouTube

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Facebook Watch has launched in the US, and will let anyone submit shows for approval, Reuters reported.

The report stated that Facebook’s video streaming service will compete against YouTube in an effort to boost advertising revenue.

55% of ad revenue will go to content creators, it said.

When Facebook started testing Watch this month, it featured hundreds of shows from Vox, Buzzfeed, and Discovery, along with live sports such as Major League Baseball.

Reuters reported that Facebook is paying certain content creators for shows to drive interest. Creators are being paid $10,000-$35,000 for short shows, and up to $250,000 for longer, scripted shows.

Facebook declined to comment on the cost of its shows.

Now read: Facebook to block ads from pages which share fake news

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