Facebook intends to expand and improve its live video platform and has grand plans for this purpose like support for face-swapping app MSQRD. Now users will be able to go live on the platform through the MSQRD app and use its many different Snapchat-like masks and filters while the video is running.
Facebook vs. Snapchat
Yesterday at VidCon, an annual online video conference going on in Anaheim, Calif., Facebook’s director of product, Fidji Simo, announced MSQRD integration. Such a move is yet another amplification in the ongoing video and messaging war the social networking giant is waging against Snapchat, says The Verge.
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More
Snapchat aims to develop its selfie lens store, for which it purchased facial recognition startup Looksery last year to help it build face-swap technology similar to that of MSQRD. The company has a goal to make video more dynamic and appealing, be it recorded or broadcast live. The fact that Facebook has acted fast to incorporate MSQRD technology into its fast-growing Live platform does not come as a surprise since Snapchat’s lenses have been a huge hit.
In March, Facebook bought Masquerade, the Belarusian startup behind MSQRD, with the intent of enhancing its video experience for users, a spokesperson for the company said then.
More features for Live
Facebook made a few other Live announcements as well on Thursday. The company said users will be able to invite a friend to “drop in” on a live broadcast beginning later this summer.
In a press release, the social networking giant said, “There are tons of new possibilities with this format: interviews, debates, duets, collaborations, and more.”
Also it will soon be possible for users to schedule a live broadcast, and the company has built in a lobby system as well so people can hang out before one starts. Owners of Verified Pages will be able to use both features later this summer, but Facebook expects to make them widely available shortly thereafter.
In August 2015, Facebook launched Live to a select group of celebrities and thereafter rolled it out to the general public in over 60 countries. The company released several updates this year, adding new features such as streaming in Facebook Groups and Events, and interactive elements such as live reactions and filters were added as well.
On Thursday, Facebook shares closed up 1.03% at $115.08. Year to date, the stock is up by over 8%, while in the last year, it is up by over 39%.