Facebook introduces new video service

Crowded market

Facebook is entering an increasingly complex and crowded market, and will face competition from traditional TV networks as well as other online services like YouTube and Netflix.

Disney yesterday announced that from 2019, it will scrap its existing deal with Netflix and create its own direct-to-consumer streaming-video services.

It will also set up a sports-themed ESPN streaming service next year.

 ( Watch will be available on mobile, laptop, desktop and via TV apps )

Facebook already has content lined up, including Major League Baseball, Women's basketball, parenting shows and a safari show from National Geographic.

According to Reuters news agency, it has also inked deals with millennial-oriented media groups Vox Media, BuzzFeed, ATTN, Group Nine Media and others to produce shows.

Watch will have a limited release in the US before it is rolled out more broadly.