Facebook signs BuzzFeed, Vox, others for original video shows

The world's largest social media company has signed deals with major millennial-focused news and entertainment outlets to create original content to tap new audiences and bring in ad revenue.

SAN JOSE (REUTERS) - You may one day be watching your favourite original shows on Facebook. 

According to Reuters' sources, the social media giant has teamed up with Vox Media, BuzzFeed and others to bring users a video service with entertainment and news. 

The original videos will come in the form of episodes lasting 20 to 30 minutes, and shorter five to 10-minute shows, all of which Facebook will own. 

The move is part of a push to bring in new ad revenue and is expected to put the company in head-to-head competition with YouTube Red, Snapchat's Discover feature and traditional TV. 

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CEO Mark Zuckerberg told investors earlier this month the company is looking for "anchor content" to draw users to its video tab. 

The model is taking a page from the successes of Netflix and Amazon in selling some of their own original content -a costly endeavour.