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Facebook Inc. has inked contracts with nearly 140 media companies and celebrities to create videos for its nascent live-streaming service, as the social network positions itself to cash in on a lucrative advertising market it has yet to tap—and keep its 1.65 billion monthly users engaged.
The company has agreed to make payments to video creators totaling more than $50 million, according to a document reviewed by The Wall Street Journal. Its partners include established media outfits like CNN and the New York Times; digital publishers like Vox Media, Tastemade, Mashable and the Huffington Post; and celebrities includingKevin Hart, Gordon Ramsay, Deepak Chopra and NFL quarterback Russell Wilson.
The arrangements are a way to encourage publishers to produce a steady stream of high-quality videos until Facebook figures out a more concrete plan to compensate creators, such as through sharing of ad revenue.