Facebook is on track to generate $100 billion in advertising revenue from its social media platform this year, according to a new report by measurement firm WARC.
The report, released earlier this week, shows Facebook’s third quarter (Q3) advertising increased 13.2 percent compared with last year, which could push its year-end revenue to as high as $100.1 billion.
Facebook’s parent company, Meta Platforms, is a publicly-traded enterprise and reports generalized data related to advertising revenue, but does not disclose specific income from advertising on a per-platform basis. In addition to Facebook, Meta Platforms owns Instagram, WhatsApp, Mapillary, Threads and Oculus.
Historically, Facebook has been the largest earner of all products owned by Meta Platforms, with its self-serve advertising solution helping all business sizes reach Facebook’s global audience of nearly 3 billion monthly active users (of which 2.2 billion are able to see advertising from the platform).
Retailers have been particularly taken with Facebook’s self-sever advertising platform, and are on track to spend $20 billion by the end of the year, WARC said. The figure represents around one-fifth of all Facebook’s projected advertising income for the year.
“In this WARC Media report, we [pull] apart Facebook’s latest advertising revenue and user behavior trends from those of its Meta parent company, and explore the platform’s latest revival in its quest to win a new Gen Z audience,” Alex Brownsell, the Head of Content at WARC Media, said in a statement.
While Facebook still commands an attractive lead in digital, advertising-supported platforms, its global share is starting to dwindle as others like Instagram and China-based TikTok catch up, WARC said.
