The news definitely wasn't well-received by media outlet executives, who told the publication that a lower budget would make it hard for them to produce their shows. Even though the video hub now has 400 million users -- a number the company dropped with all the other stats it revealed on Thursday -- news programs' ad revenues have apparently been underwhelming. Only 75 million people, a tiny fraction of Facebook's 1.5 billion daily users, watch at least one minute of video every day. In other words, most don't stick around long enough to even catch a glimpse of video ads.

Facebook reportedly asked some media outlets to make their shows shorter, so we might see more 5-minute bite-sized programs than 15-minute videos in the future. In addition, the social network reportedly encouraged them to use more techniques (such as product placements) to make money, so they won't have to rely solely on its funding and ad revenue.