Facebook to increase ad spend to $1 billion per year
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Massive ads digital is a big part of Facebook’s digital ad platform, but it also includes ads aimed at its larger audience of more than 30 million users.
The company has been working to get ads to reach those users for years, as it has grown its ad platform into a multi-billion-dollar industry, but the ads were just getting started.
Now Facebook is rolling out new ads aimed directly at its audience of roughly 1 billion users.
Ads will be aimed at Facebook users from now through the end of 2018, according to a Facebook blog post published Monday.
In a blog post titled “Ads for the billion-plus users,” Facebook said it would add more than 1,000 new ads per month to the platform, as well as additional ad formats and additional publishers, in addition to adding ads to its platform for existing users.
These ads will be targeting new users, but Facebook said those users will be able to view the ads from the app’s main menu and will be allowed to download the ads to view them.
Facebook’s goal is to make its ad strategy more accessible to its larger users and will not be limited to ads that are tailored to specific demographic groups, the company wrote.
The ads will launch in 2018.
Facebook’s push to get its ads to the billion users comes as Facebook struggles to grow its user base.
The social network reported revenue of $17.5 billion in Q3, down about $4 billion from the same period last year.
Its core ad revenue fell $1.1 billion to $15.4 billion, according the company’s most recent earnings report.
Analysts have said Facebook could need to spend more to grow the company, which had nearly $80 billion in cash at the end March.
But with Facebook spending more money to get more users, it’s unlikely it will be ready to ramp up its ad revenue anytime soon.
Last year, Facebook also announced it would spend $300 million to build out a new ad platform to allow users to customize their ad preferences to be more targeted.
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