Facebook Inc (NASDAQ:FB) has high hopes for its video on demand (VOD) platform, dubbed Facebook Watch.
The social networking behemoth has invested quite a bit in original programming, news shows, and live sports — and that budget is set to expand significantly in coming years. Starting Wednesday, international users will also be able to access the platform, but as MarketWatch points out, people still aren’t really aware that it exists:
Despite the global rollout and Facebook’s up-to-$1 billion investment in the platform, half of adult Facebook users don’t even know Watch exists, according to data gathered by The Diffusion Group.
The firm surveyed 1,632 adult Facebook users in mid-2018 about their awareness and use of the VOD platform. Fifty percent said they had never heard of Watch, while 24% said they had heard of the service, but had never used it. Five percent said they had used Watch, but not recently.
Only 6% said they use Watch every day, and 8% use it on a weekly basis. Those aren’t great numbers, and Watch’s future may just depend on international markets embracing it in a way that the U.S. hasn’t.
Facebook Inc shares closed at $163.04 on Friday, up $0.51 (+0.31%). Year-to-date, FB has declined -7.61%, versus a 8.69% rise in the benchmark S&P 500 index during the same period.