Facebook is all set to introduce its new video platform, Watch, in India soon. The social media giant is reported to launch the video platform between January and March 2018.

According to a report by The Ken, Facebook is looking to source regional-language content for its application as well. The report further highlights with Watch, creators will be able to showcase their content better as compared to YouTube, which uses an algorithm for its recommendation tab.

The new video platform is in line with company’s ambitious plan to take a head-to-head competition with streaming services like Netflix, Amazon Prime Videos or even Google-owned YouTube Red. This also means that the company is planning to enter the video first business and want to monetize it through generating more video ad-based revenues. However, it would be interesting to see whether this new videoservice will be able to give a stiff competition to other streaming giants.

Facebook also utilises the Watch platfom for Live sports viewing and this can be a big opportunity for the social media giant in India, given the country's love for cricket. Back in September, Facebook placed a $600 million bid for the digital distribution rights of IPL matches in the country. However, the company lost to 21st Century Fox's Star India unit which bid a whopping $2.55 billion for both TV and digital rights.