Facebook Inc (NASDAQ:FB) announced Riff on April 1st, but the product is not a joke. The official line for the new app is “Make videos with friends, watch videos made by friends”. As you may have understood from that, this is another move on social video creation.
According to Carey, the Riff app is for those people who would not mind having another way to creat and share video on social media. Not that there is a dearth of applications for that. There is the headline-making Meerkat live streaming app. Twitter Inc (NYSE:TWTR) also recently released Periscope, their own app against Meerkat. Furthermore, Vine and Snapchat can also be seen as competitors in this space.
So how does Riff work? Key to the design of the application is its intended use which is to capture short videos that are about a single topic.
“So let’s say it’s about bananas. You record 20 seconds of video about a banana, and if your friend jumps in, and his or her friends see it and they jump in, the next thing you know there are 100 videos about a banana on Facebook,” Carey says.
She also notes that using Riff, Facebook Inc (NASDAQ:FB) users can create their own topics or jump in on an already posted topic on the social network. The creation of more videos is a boon for the social network as makes money off of this, Carey adds.
“[…] That makes Facebook happy because more people are uploading video and that means the network can make more money from advertisers. So the next time a viral video or movement comes along like the ice bucket challenge or the Harlem shake, maybe it will take off on Riff,” she says.
However, people could chose to keep using their phones to record video and manually upload their videos to Facebook Inc (NASDAQ:FB), the CNET reporter ventures.
Karthik Sarma’s SRS Investment Management owned 5 million Facebook Inc (NASDAQ:FB) shares by the end of 2014.
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