When Netflix first emerged onto the scene as a DVD subscription service, no one ever imagined just how large the company would become. But now, millions of people use Netflix each month to stream TV shows, movies and documentaries.
Of course, many others have followed Netflix's lead, trying to sway customers in their direction. Hulu, Amazon Prime Video, Playstation Vue, Crackle, YouTube and Sling all offer various streaming services for subscribers.
One contender you'd least expect, however, is now stepping into the ring. For more than a year now, Facebook has been working on a streaming service too.
It might seem out of the ordinary, especially when you consider that Facebook has only just recently started to dabble with video content with Facebook Live Video. And just look at how that's turned out. Since its public rollout in early 2016, Live Video has already received tons of criticism after videos of murders and rapes were streamed live on social media.
But Facebook's new service would be something entirely different. The platform is promising to offer original content similar to Netflix Originals like, "House of Cards," "Stranger Things" and "Orange Is the New Black." But it will also offer shorter clips, similar to YouTube videos.
More than 20 full-length shows will be included at launch, and even more have been green-lit for production.
As long as everything goes according to plan, Facebook's TV service will be rolled out as early as mid-June. There's no word on what the service will officially be called, or if there will be a subscription fee associated with it. For now, it's been nicknamed "Facebook TV."
Some have speculated that Facebook TV will earn revenue by offering the company another advertising platform. Others have claimed the service will be a revenue share model, or possibly even a "pay per view" model.
But, revenue aside, Facebook's primary goal is to introduce a new way to draw in new users and keep existing users on the platform.
We're curious to see how Facebook's service will compare with other new services out there. We've already mentioned that YouTube TV isn't worth what you'll pay for it. And Hulu's new service seems like a decent deal.