Facebook is expected to generate more than $2 billion in advertising revenue in the next two years according to an article in The Australian.
According to the report Facebook are to target television, website development and Google in order to reach its goal and it is said that Unilever, Coca-Cola and Procter & Gamble are already moving away from building microsites in favour of constructing Facebook pages for their brands as stated by Mindshare global head of social media Ciaran Norris.
He goes on to say that “Some of the biggest direct digital advertisers are shifting budgets from Google to Facebook” and that within the next year or two, Facebook’s revenue would be “in the billions”.
Facebook's revenue could be in the billions in the next year or two
The power of Facebook is there for everybody to see and its great appeal has been the ability for targeted messaging as well as the interaction and engagements with brands.
This news comes off the back of recent stats from Hitwise that showed Facebook has overtaken Google to become the most visited site in the US with 7.07% and 7.03% respectively. This has lead to many people talking of Google finally coming up against a strong competitor however Facebook still have a long way to go in going toe to toe with Google as $2billion is still only small change compared to what Google generated in 2009 alone.