See Helping Creators Connect, Create and Grow (Facebook Newsroom) for more details; on a related note, from late May: America’s Teens Are Choosing YouTube Over Facebook (Bloomberg)
"The company announced at an event for Facebook video creators on Tuesday it would allow more content to be eligible for its Watch program. By doing so, it opens up the doors for both the company and social media stars to earn more advertising revenue. Facebook also announced Brand Collabs Manager, a platform that will connect video creators with sponsorship opportunities.Facebook takes another shot at grabbing social media stars from YouTube -- CNBC
Digital video advertising revenue is projected to hit $19.81 billion by 2020, according to eMarketer. Google's YouTube is considered the main home for online creator-made video content. Facebook, however, is trying to encroach on that territory with Tuesday's announcement, which follows reports of plans to expand the length of Instagram videos and introduce original Instagram shows."