Facebook Spends $50 Million to 140 Media Companies and Celebrities for Live Video

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Facebook is betting big on Live Video, its new live broadcasting tool, spending more than $50 million to entice 140 or so media companies, pro athletes and celebrities to create live video streams to share on the social media network, said the Wall Street Journal. Why? To cash in on potential advertising opportunities that Live Video might generate by further engaging its audience of 1.65 billion monthly Facebook users.

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