In meetings with major talent agencies including Creative Artists Agency, United Talent Agency, William Morris Endeavor and ICM Partners, Facebook FB, -0.95% has indicated it is willing to commit to production budgets as high as $3 million per episode, people familiar with the situation say.

That’s the price range of high-end cable-TV shows. Facebook is also interested in more moderate-cost scripted shows in the mid-to-high six-figure-per-episode range, these people say. The company will be aggressive about trying to own as much of that content as possible.

The push for TV shows is part of a two-track effort at Facebook to up its game in video and target the tens of billions of ad dollars spent on television.

News Source: MarketWatch