Facebook Eyeing Original Content

(RTTNews) - Facebook is planning to invest in original and licensed video, as the social networking giant aims to take on other online video streaming companies.

"Earlier this year, we started rolling out the Video tab, a dedicated place for video on Facebook," said Facebook Head of Global Creative Strategy Ricky Van Veen in a statement. "Our goal is to kickstart an ecosystem of partner content for the tab, so we're exploring funding some seed video content, including original and licensed scripted, unscripted, and sports content, that takes advantage of mobile and the social interaction unique to Facebook."

According to reports, the plans to invest in original content are still in early stages. The news was first reported by both Mashable and Re-code.

Earlier this year, the company added a video tab to its Facebook app, which helped users to easily find new video content. However, Facebook will now directly compete with Netflix and YouTube with original content.