Facebook is expected to leap casually over the £1 billion mark in online advertising revenue next year.
It is anticipated that the social media giant will bring in revenues of £824 million ($1.285 billion) this year, with this figure rising to £1.13 billion ($1.76 billion) next year. This will mean that Facebook’s revenue will have grown 165% between 2009 and 2011.
According to marketing research firm eMarketer, 65% of Facebook’s revenue currently comes from the US market, but that figure is expected to fall to 60% next year, showing that Facebook is growing faster overseas that it is in its home market.
In stark contrast to Facebook’s meteoric rise, MySpace’s revenues are expected to fall by 14% from $347 million this year to $297 million in 2011.
Facebook ramps up video services with Facebook Live channel
Last week saw the launch of Facebook Live, a live video channel that will keep users informed about news, events and new features in the social network. The new Facebook application can be added as a tab to any Facebook page and is expected to begin by showcasing Facebook products and allowing users to chat with Facebook engineers and other employees.
Given Mark Zuckerberg’s statement in June at the Cannes Lions International Advertising Festival that Facebook would almost certainly surpass 1 billion users, Facebook Live is expected to become much more than a forum for the company to interact with users.
As more and more users consume online video content, speculation continues whether Facebook Live could become a fully-fledged online television channel accessible as a tab on your Facebook page.
