LONDON (ShareCast) - (ShareCast News) - Social media giant Facebook is weighing up the possibility of creating television series, according to The Wall Street Journal.
The newspaper reported on Monday that the company founded by Mark Zuckerberg has met with officials from Hollywood studios in order to launch its own original video content by the end of the year.

With the rise of streaming sites such as Netflix and increasing budgets for such firms for content, Facebook believes it can force its way into the market and create its own.

The report added that the US tech giant is willing to pay up to $3m per episode for high quality shows, and has already signed deals with the likes of Vox Media and BuzzFeed.

Facebook's move towards TV would mirror that of another major US tech firm. Earlier this month Apple began its first foray into the medium, with a reality show called 'Planet of the Apps'.

Facebook will aim to create content targeting viewers between the ages of 17 and 34, specifically in the 17 to 30 range.

The WSJ said two programmes had already been agreed upon by Facebook executives, relationship drama 'Strangers' and game show 'Last State Standing'.

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