Facebook’s booming advertising business is projected to push ad revenues passed $30bn in 2017, despite some setbacks this year regarding how it measures video views.
Inevitably, much of the growth is to come from mobile, which eMarketer predicts will net $21.98bn in 2016, up 66.6% on the previous year. The figure is even more impressive when stacked against the projected $26bn the study claimed the social network’s total ad revenues for the period.
Increasingly more of this revenue will come from outside the US too, 54% in 2016, hinting at the success of its global growth strategy.
“Facebook is still going pedal to the metal when it comes to building out its products and services,” said eMarketer analyst Debra Aho Williamson.
The company came under scrutiny earlier this year, after it admitted that its measurement metrics dramatically overstated video views, causing brands and advertisers to push for access to the data so they could oversee its content and buys.
On this, Williamson said: “Facebook had a hiccup in September… [we don’t] believe the revelation will cause brands to pull back their Facebook spending, we expect that in the future there will be a push for more rigorous third-party measurement of ad performance on properties like Facebook.”
Looking to precipitate further growth, the company is courting TV networks in an attempt to work with them, and work together on media budgets across each platform rather than compete.