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Noah Berger / AP

Facebook plans to launch a series of its own original content this June, Business Insider reports. They are looking for shows that are like TV (longer, big-budget) and some that are more similar to what you would find on Snapchat Discover (shorter, less-expensive shows that refresh daily).

Our thought bubble: There's going to be a lot more premium video inventory on the major platforms for marketers, and the quality of the content, mobile delivery, and brand safety will be a big part of what drives buys.

Facebook's competition: Nearly all of Facebook's biggest competitors have announced new live and original programming partnerships this week, many at major advertising presentations called NewFronts in New York. Twitter announced over a dozen new live-streaming and original video content partnerships. Hulu debuted a new live-streaming TV service and new original shows on-demand. YouTube announced it's launching 40 free, original shows. Snapchat is recruiting producers to make original shows for Snap TV.

Why it matters: Noticeably missing from some of the NewFronts presentations were major ad updates. In the past, publishers touted new content studios, ad units and targeting features to lure ad buyers into increasing digital budgets for some of their biggest brand clients. But because the display market has become so saturated, the focus is now on selling video ads, which require premium content more than fancy ad tech — like TV.

Go deeper

12 mins ago - Technology

Facebook Oversight Board overturns 4 of its 5 first cases

Illustration: Aïda Amer/Axios

Facebook's independent Oversight Board published its first set of decisions Thursday, overturning 4 of the 5 cases it chose to review out of 20,000 cases submitted.

Why it matters: The decision to go against Facebook's conclusions in 4 out of 5 instances gives legitimacy to the Board, which is funded via a $130 million grant from Facebook.

New York AG: State severely undercounted COVID nursing home deaths

Gov. Andrew Cuomo. Photo: Lev Radin/Pacific Press/LightRocket via Getty Images

Data from New York's public health department undercounted COVID-19-related deaths in nursing homes by as much as 50%, according to a report released Thursday by state Attorney General Letitia James.

The big picture: Gov. Andrew Cuomo's administration did not include nursing home patients who died after being transferred to the hospital in its tally of over 8,500 nursing home deaths, according to the report. Data provided to the attorney general's office from 62 nursing homes "shows a significantly higher number of resident COVID-19 deaths can be identified than is reflected" in the official count.

Trading platforms curb trading on high-flying Reddit stocks

Major trading platforms including Robinhood, TDAmeritrade and Interactive Brokers are restricting — or cutting off entirely — trading on high-flying stocks like GameStop and AMC Entertainment.

Why it matters: It limits access to the traders that have contributed to the wild Reddit-driven activity of the past few days — a phenomenon that has gripped Wall Street and the country.