Facebook taps BuzzFeed and Pinterest executives
Facebook (FB) recently made two key hires in its video division. The company tapped Matthew Henick, former head of BuzzFeed Studios, to lead global video content planning. It also hired Mike Bidgoli, a former executive at Pinterest, to lead its Watch product team. Facebook Watch, or simply Watch, is a dedicated video tab within Facebook’s flagship social media platform. “Good stories draw the audience in, but great stories deepen the audience’s connection to each other. The future of storytelling is social,” said Henick.
Bidgoli oversaw most of Pinterest’s revenue
At BuzzFeed, where he had been since September 2014, Henick oversaw the production of original entertainment content. Facebook Watch is also focused on original programming, and BuzzFeed was one of the partners that Facebook had signed on to supply original content for its video tab.
According to Medium, “Facebook Watch is a challenging and ambitious attempt to solve a problem that personally and professionally captivates me,” said Bidgoli. At Pinterest, Bidgoli led the monetization product teams, and his department was responsible for the majority of Pinterest’s revenue.
Facebook betting on high-quality programming in video push
Facebook has gained talents with good track records to lead its video content acquisition and monetization efforts. With Twitter (TWTR), Snap (SNAP), and Google (GOOGL) also stepping up their push for digital video advertising funds, Facebook’s recent video hires suggest the company is betting on high-quality production to help it stand out. High-quality programming has worked well for Netflix (NFLX), which now boasts more than 100 million subscribers globally.