Facebook has added a new video service

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The new "Watch" platform is said to be a redesigned version of the company's "Video" tab, which was launched a year ago by the social media giant to offer users "a predictable place to find videos on Facebook". "Now video is going to be Facebook's main event; its episodic shows will even include scripted programs and reality content".

Facebook says the Watch tab will feature content created to "engage fans and community", including videos from popular vloggers and online personalities. The new service, which will feature about 40 original series, will first be introduced to a limited number of people in the USA, followed by users in other parts of the world soon. It will be available to a limited group of users in the U.S. but will rollout to a wider audience soon.

Facebook is launching a new video service which will see the social network giant pitted against YouTube and Amazon.

Some of these shows will be funded by the social network itself, especially those that are "community-focused". Moreover, the content producers can also share their shows in News Feed so that users can easily find and access the shows.

"We're hoping to see thousands of shows created" as the product gets off the ground, Danker said.

Facebook said Watch will be available on a limited basis and will be gradually rolled out to users for use on mobile devices, tablets, laptop and desktop computers, and its TV app.

"Watching a show doesn't have to be passive". Facebook is now testing ad breaks. The same will be true on the content creation side where only a limited group of creators will be able to setup Shows until everything is tuned in just right and the platform is ready for others to join.

Mark Zuckerberg, chief executive of Facebook, speaks during the company's annual developer conference in San Francisco, March 25, 2015.

According to Facebook, creators will one day be able to monetize their shows through ad breaks. "What's making people laugh" section, for example, will contain videos that have many "ha ha" reactions and so on.

Let us know your thoughts on the new platform on social media.

Watch is a redesign of the site's current video tab, altered in a way meant to entice people to watch for longer stretches and return regularly to view shows, including the first programs funded by the company.

Among the shows Facebook is paying for are "Returning the Favor", a show about inspiring people starring Mike Rowe, who was the host of "Dirty Jobs".

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