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Facebook to introduce new video service

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Facebook is hoping to capitalise on its two billion users as it makes a move into the crowded market for online video.

Users will soon see a new Watch tab that will offer a range of shows, some of which have been funded by the social network

Like many of Facebook's services, information on users personal tastes will play a role in determining what content they see, and viewers will also be able to see comments and connect dedicated groups for shows.

The move will bring Facebook into direct competition with traditional TV networks and video streaming services like Netflix and YouTube.