Facebook joins the world of streaming TV

Move over, Netflix: Facebook has officially launched into the realm of streaming video. On Wednesday, the social network announced a redesigned video tab called Watch. In an effort perhaps intended to shore up Facebook's dwindling base of younger users, Watch will include a variety of offerings, from short-form content from partners such as A&E to shows that cover real-time events like MLB Live.

Users will be able to make watch lists of their favorite shows, as well as search for videos that "Friends Are Watching" or are "Most Talked About." Facebook will also be redesigning its video tab for Watch, in an effort to engage users for longer periods of time and give them a reason to return to the site. The company hopes to make its streaming service stand out because of the inherently attached social component.

The launch is not widespread, however. Only a small percentage of users could see the new tab in the Facebook app when it launched Thursday, but the social network plans to expand the experience to everyone in the upcoming weeks. Watch would then become available on desktop and connected TV apps.

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