In context: It's still far from YouTube which hosts 2 billion unique users globally each month but it's a step in the right direction for sure. By comparison, Facebook had just 400 million monthly users and 75 million daily viewers as of December 2018.

Facebook's video platform is growing by leaps and bounds. Introduced in August 2017 and launched globally a year later, the platform serves as Facebook's answer to YouTube, Netflix and Amazon. There are now more than 720 million people watching monthly, said Paresh Rajwat, Director, Product Management, and Matthew Henick, Head of Content Planning and Strategy, in a recent blog post.

The duo further revealed that 140 million daily users spend at least one minute in Watch and on average, daily visitors spend more than 26 minutes on the platform every day.

Facebook said the number of pages earning over $1,000 in payouts per month has increased by more than eightfold over the past year while those taking home more than $10,000 per month are up more than 3x over the same period.

Facebook Watch is launching a new season of The Real World on Thursday. The pioneering series, which first aired on MTV in 1992, helped usher in the era of reality television and aims to keep the magic going through the power of social media.