A new Morgan Stanley survey found strong early interest in Facebook Watch, the company’s newly launched video platform. Morgan Stanley analyst Brian Nowak wrote Friday that 40% of Facebook Inc. use Facebook Watch weekly, while 24% of them use it daily. “We are encouraged (and admittedly surprised) by this early Watch traction as it speaks to Facebook’s ability to drive adoption of new products,” Nowak wrote. “We view Watch (and video) as the next key long-term driver of Facebook engagement and monetization.” Three-quarters of survey respondents who use Facebook Watch said they view videos shorter than 20 minutes every week through the platform, while half reported weekly viewings of videos that were longer than 20 minutes. Nowak wrote that these patterns are similar to what the firm has observed among viewers of Alphabet Inc.’s YouTube service. YouTube remains the leader for video consumption, he added. Facebook shares are up 41% over the past 12 months, while Alphabet shares have gained 38% and the S&P 500 is up 24%.
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