The social networking website is tapping in on its recently introduced video features to attract more advertising revenues.
It is now fairly known that social networking giant Facebook is cashing in on its video advertising options, especially through mobile platforms, as the company’s number of monthly active users in the MENA region only surged to 74 million in the 3rd quarter of 2014.
Facebook, which recently introduced a number of video features to its newsfeed, said that the video consumption globally through its website grew 50% between May and June this year and that it also garners about one billion video views a day.
An executive of Facebook says: “TV has seen a slight decline but we saw a 267 per cent growth in digital. Additionally, this growth is being driven by mobile consumption and that is where the people are discovering videos.”
The majority of Facebook users in the region also use mobile to access the site, latest company figures showed.
In the MENA region, around 32 million 80% of the total are mobile users.
The social network’s mobile advertising revenues have also grown steadily representing almost 66 % of the total advertising revenues in Q3 2014. Revenues from mobile ads grew 49 per cent year-on-year in the third quarter.
He added that the social networking site’s biggest selling point among advertisers is its large reach.
“People know that we have a significantly high volume. We can build and connect on this platform and when you add video to that, which is the primary content muscle that our industry has, through multiple screens and through auto play, the enthusiasm of the clients is significant.”
As part of its push in marketing video ads, Facebook introduced a new video feature called auto play in March that allows videos in a users’ newsfeed to begin playing automatically. The videos, which are activated when a user scrolls over them but will not have a sound unless it is clicked on, has also widened the scope of advertising in Facebook, executives said.
Although the company did not provide a breakdown of region specific figures for its revenues from video advertisement, it is said that the uptake in the region was quite strong.
On being asked if Facebook’s focus on advertising impacts user experience, the executive of Facebook said that the company is being selective about how they integrate ads.
“The issue people have with advertising in any medium is that of relevance,” said he.
“The trick is that how do we use advertising to get more relevant things to relevant people all the time. The more things you see in your newsfeed that is exciting and useful, the more you are going to enjoy being in that platform. We are taking this idea very seriously as there is an option in every single ad in the newsfeed to block it as well.”