Facebook and YouTube are not usually thought of as competitors, as one is a social-network and another is a video-sharing platform. However, both are more similar than you think. Both are primarily driven by ad-revenue, and both allow to share videos. In fact, Facebook’s videos have been growing exponentially as a whole, and content creators are starting to experiment with Facebook Videos, thus posing as a threat to YouTube.
Facebook has apparently recognized how useful its Video sub-platform is, which is why it is launching 360-degree videos on iOS, after already launching them on Android and the Web. This comes a few months after YouTube itself announced support for 360-degree videos. Not only videos, but now 360-degree advertisement support is here, so marketers can create even more immersive ads.
These 360-degree videos are suitable for Virtual Reality, which of course interests Facebook since it owns Oculus. Since these videos are hard to make, Facebook is launching a site that serves as a starting point for those looking to make such videos.
What do you think? Can Virtual Reality take off?