Another issue was decline in engagement, for which, some reports partly blamed videos back then. However, clearing the air is the new report (via Engadget) that reveals the social media giant has now inked deals with media companies such as Dodo operator Group Nine media. Buzzfeed, Vox media, ATTN that are said to be focused on producing video content that appeals to millennials.

The deal aims at video clips, both short and long lasting 10 to 20 minutes for original video content, of course with ad breaks. Taking cues from online video services, Facebook is reportedly looking for some exclusive content, which can make its way on to other sites eventually.

The reason is simple - original content. Needless to say, one of the simplest ways to stop low engagement is ramping original content. And what if this content is millennial- focused? That's exactly what Facebook is probably trying to do. After all, as much as Facebook would like to believe, it isn't just a platform for publishers, but slowly turning into a publisher.  

Moreover, there has been a shift in the pattern of the way we consume data, a clear shift from text to videos. According data released by eMarketer earlier this year, more than 62 per cent of the world's internet users will view digital video in 2017, which will be up from 60.8 per cent in 2016.

Now, with video content, Facebook wants to retain its audiences as well as attract younger audiences with original short and longer video clips that are exclusive to its page/app. There is no word on the amount involved, but if the report is to be believed, then it has promised 55 percent share from ads to the publishers.