First Facebook TV Episodes Are Said to Be Ready for Mid-August - Bloomberg

A new Facebook advertising channel

"Facebook originally expected the project to be ready about a month ago, but it has taken longer than anticipated and further delays could occur, the people said. The company is funding a set of original programs, expected to be displayed outside of a user’s news feed in a new video section that’s intended to give the company a greater cut of the $70 billion television advertising market. 

The new video section will offer the social network’s more than 2 billion users a mix of scripted and user-generated content. Facebook aims to make something higher-end than Google’s YouTube, but it’s not competing with video producers such as Netflix, HBO and Showtime."

First Facebook TV Episodes Are Said to Be Ready for Mid-August - Bloomberg