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Facebook Signs Deal With Miramax

Users will be able to watch movies through a new app
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Facebook has teamed with its third major movie studio in six months to increase its streaming content. The social network’s users will now be able to watch films from the Miramax vault within a new, specially tailored app, where they’ll also be able to share comments on the movie with friends.

The movies can only be paid for with Facebook credits—40 per movie, the equivalent of about $4. Facebook will likely take its usual 30 percent cut of the profit.

And the credits won’t just come in handy for movie streaming: Miramax CEO Mike Lang said it wouldn’t be long before retailers would be selling their products on Facebook as well, according to the New York Post.

Earlier this year, Facebook signed similar streaming agreements with Warner Bros. and Universal Pictures. Last month, Facebook jumped from the sixth-largest to the third-largest video site behind Google and Vevo in terms of unique users with 51.5 million viewers, data from comScore showed.