Facebook launches Fb.gg
Facebook (FB) has recently started a game streaming hub, Fb.gg, to make its platform appealing for gamers and content creators. The new Fb.gg will help gamers find new streamers from a selection of featured creators and other gaming-industry-centric content. Facebook, through its new program, Level Up, will help video-game streamers build a fan base and earn money from their games by collecting digital currency called Facebook Stars.
Facebook’s efforts to expand in the gaming platform
The social media giant’s expansion in the gaming arena is a part of the company’s efforts to capture the growing popularity of online gaming streaming services. The launch of Fb.gg also seems to pose a challenge to gaming hub and creator programs like Amazon’s (AMZN) Twitch and Alphabet’s (GOOGL) YouTube Gaming. Twitch has more than 2.0 million monthly broadcasters and more than 15.0 million daily viewers.
This isn’t Facebook’s first attempt to explore the lucrative and fast-growing world of game streaming. In January 2018, Facebook launched a gaming-creator program, where Facebook allowed people to stream their own videos of playing video games online for others to watch. Further, gamers can also make money by way of “tipping” from people who view their live stream. In the past, the company has brought in many features for gamers.
Facebook is currently in the early stages of developing its gaming platform. The company is making efforts to attract gamers through its video push and thereby achieve revenue growth, as the video gaming market is growing rapidly. According to research firm PwC, the total video games revenue in the US is expected to grow at a 6.3% CAGR rate to reach more than $28.5 billion by 2021.