Facebook Inc is rapidly increasing its ad revenue from video, capturing 25% of the nation's digital ad spending in that category, according to a forecast released Oct 9.
Facebook is expected to bring in US$6.8bil (RM28.25bil) in digital video ad revenue this year, up 42% from 2017, according to research firm EMarketer. The Menlo Park, California, company, which owns photo and video app Instagram, is outpacing video ad sales for other social media competitors, including Twitter Inc and Snap Inc. Facebook commands 87% of US social network video ad spending, compared with Twitter's 8% and Snap's 5%.
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