Facebook to develop app for television set-top boxes: WSJ

Facebook Inc is creating an app for television set-top boxes, including Apple Inc`s Apple TV, the Wall Street Journal reported, citing people familiar with the matter.

The world`s biggest online social network is also in discussions with media companies to license long-form, TV-quality programming, the Journal reported on Tuesday.

Facebook declined to comment.

An app for set-top boxes would bring Facebook closer to live video and video advertisements.

Getting advertisers to buy more video ads is key to Facebook`s continued revenue growth as such ads fetch higher rates from advertisers than text or photo-based ads.

Live video is also becoming a highly competitive feature on social platforms, with companies competing to stream major sports events and exclusive video components from high-profile events such as the Oscar and Grammy awards shows.

In April, Facebook expanded its live video product, Facebook Live - a potential threat to broadcast television, giving it prominent placement on its app and rolling out features to make it easier for users to search and comment in real time.

Source: Reuters