Producers large and small will now be able to create Facebook Live broadcasts with personalized intros and outros, graphics frames and customized live stickers.
Rolled out on late Friday, Facebook's "Creator" app is part of a strategy to build a creator community and make inroads into a space where YouTube currently dominates.
In the announcement blog, Chris Hatfield, the product manager for video on Facebook, said that creators can easily create original video, go live with exclusive features, and connect with their community on Facebook.
To help creators, Facebook also launched a Creator community page, with free guides on making content shine and understanding the tools offered.
Facebook has spent over a year trying to replicate the success of the YouTube creator community, with little success, mainly due to the weak relative monetization options and outcomes from Facebook Live and streaming.
The app gives content creators access to camera effects, frames, and tools for cross-posting content across platforms. A unified inbox within the community tab allows producers to connect with interested sponsors and fans, aggregating comments across Facebook's platforms, including Instagram and Messenger.
Similar to YouTube Audience Insights, creators on Facebook will be able to access metrics to help them make sense of how fans and viewers are responding to content and pages.
This is similar to Facebook's launch of Watch, a platform for all formats of streaming shows such as video blogs, scripted shows, and live broadcasts.
According to Facebook's latest earnings report, data from the Audience Network suggests that 70 percent of the 15-second in-stream video ads are viewed to completion.
While the iOS app has been launched, the Android version is coming soon.