Facebook (FB) will Thursday launch its foray into premium video, unveiling a new "Watch" tab on its mobile app.
Facebook shares were marked down in pre-market trading Thursday, indicated to open at $170.26. Shares closed at $171.18 Wednesday.
The new tab will be available to select users in the U.S. from Thursday before it is released more widely and feature professionally produced short-form content from partners including, A&E, Hearst, Major League Baseball and National Geographic.
When it is launched Thursday Facebook aims to have several hundred shows on the platform. The content is largely reality shows but Facebook will show a live broadcast of an MLB game every Friday night.
Facebook has talked about its video ambitions and is reportedly seeking tie-ups with production companies to produce original, scripted content.
A Facebook spokesperson told Variety that it had invested in at least two productions Returning the Favor" starring Mike Rowe of "Dirty Jobs" fame, a show that explores the theme of community and giving back; and "Ball in the Family," a reality series about the family of LaVar Ball.
More of What's Trending on TheStreet: