Shark Tank move over: Hootsuite will debut a similarly-styled show next week called LOI: Live Pitch.
LOI: Live Pitch will give entrepreneurs aged 18 to 25 an opportunity to pitch their business ideas. What separates LOI: Live Pitch from the other shows in this genre is that:
- It will run on Facebook Live and
- The entrepreneurs will pitch their business ideas in 200 characters via Facebook Live comments.
Hootsuite is billing the program, which CEO Ryan Holmes will host, as "part talk television, part funding game show for Generation C." As for the 200 character limit, Hootsuite says that "character count is the new currency to sell business ideas to potential investors."
From Paintball Operator to Entrepreneur
The first episode will run on Sept. 5 at 12 pm ET, when Holmes will be joined by author and entrepreneur Lewis Howes.
"Along with the finale of the show in October, we’ll be officially launching our wider program for young business people, The League of Innovators," a Hootsuite spokesperson told CMSWire. "We'll be sharing other opportunities and initiatives we have in the works geared to connecting smart entrepreneurs-in-the-making."
The show was inspired by Holmes’ own experiences as a young entrepreneur, the spokesperson said. Holmes opened his first business, a paintball operation, while he was still in high school. "From these experiences came his passion for connecting young entrepreneurs with resources and mentorship," the spokesperson said.
Facebook's Insatiable Demand For Video
LOI: Live Pitch will join the more than 100 million hours of video already being consumed on Facebook every day — a data point that is likely to increase as Facebook Watch, an initiative Facebook launched this week, gains traction.
Facebook Watch allows Facebookers to find TV shows based on (of course) what their friends are watching. It further fosters the social experience by providing a venue for viewers to talk with one another during an episode.
Vox, Buzzfeed, Discovery Communications, A&E Networks and Walt Disney's ABC, as well as live sports from Major League Baseball are part of the content mix. Facebook will also pay for original content, according to news accounts, and eventually the platform will be open for anyone to submit their shows.
Admittedly these are very early days for Facebook Watch and it remains to be seen what types of content will find success on the platform — and how marketers can make the best use of it. What we do know, is that millennials and Gen Z — sometimes called 'Gen C' for their proclivity for content, curation and community — are looking to social and streaming channels for their news and entertainment, the Hootsuite spokesperson said.
"For companies that are hoping to engage with this audience in particular, and have the creativity and commitment to develop compelling, authentic, exciting programming for Facebook Watch, it’s a worthy gamble."