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Facebook paying over $50 million to publishers and celebs for live streaming: Report

The live streaming platform of social networking giant Facebook is emerging as a significant source of income for some media companies.

Facebook paying over $50 million to publishers and celebs for live streaming: Report

"A document" reviewed by the Wall Street Journal shows that the social network is paying out more than $50 million to publishers and celebrities who produce content for Facebook Live.

The report added that Facebook has contracts with close to 140 publishers and celebrities. It may be recalled that Facebook had launched the live streaming platform last summer and had then signed deals with several media partners.

The terms of each "varies wildly," according to the Wall Street Journal, but BuzzFeed's deal is the most valuable at $3.05 million. It is learned that at least 17 deals are worth more than $1 million, including deals with the New York Times and CNN.

Facebook is also paying some celebrities to live stream, including Seattle Seahawks quarterback Russell Wilson, actor Kevin Hart and celebrity chef Gordon Ramsay, along with YouTube stars and institutions like the American Museum of Natural History in New York. Under the contracts, publishers and celebs agree to produce a set number of broadcasts using Facebook Live.