Since its launch in 2018, Facebook Watch which is an on-demand service to discover videos across the social network is witnessing more than 1.25 billion people discover and share videos from millions of creators and publishers.
However, the last few months have been tough for many creators and businesses owing to the pandemic.
"To help our partners, we are continuing to build new tools so they can diversify their revenue and expand their presence on Facebook," Paresh Rajwat, Head of Video Products, said in a blog post on Thursday.
With growing demand to connect around music on Facebook, the company has introduced music videos in Watch to everyone in the US, India and Thailand.
Last month, Katy Perry debuted her new music video "Smile," the title track of her just released fifth album, exclusively on Facebook to millions of fans.
"We recently launched paid online events to make it easy to create an online event, set a price, promote the event, collect payment and host the event, all in one place," Rajwat said.
To support small businesses and creators, Facebook has announced not to collect any fees from paid online events for at least the next year.
"We've expanded availability of fan subscriptions and Stars so fans can support their favorite creators, and in-stream ads continue to evolve, making it easier to monetise more types of videos with ads," Facebook said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)