Facebook Inc. will unveil a mobile ad network at its F8 developer conference in San Francisco later this month, reports Re/code.

Quoting “multiple sources familiar with the matter” Re/code writer Mike Isaac writes that Facebook will pitch the mobile ads to publishers and app developers as a superior method of ad targeting using information on Facebook user profiles. The network aspect of the announcements means that Facebook will also be reaching its users even after they leave to browser other pages on the web – targeting them with ads using cookies placed on their system.

In Toronto, Facebook’s agency invited media to watch the April 30 F8 live stream from San Francisco. While Facebook CEO Mark Zuckerberg delivers his keynote, members of Toronto’s developer and marketing community will also be on hand to watch.

Unlike many websites that are having a tough time selling mobile ads, Facebook has grown its mobile ad sales to well over $1 billion in revenue per quarter and more than half of all its ad sales. Limited screen real estate on smartphones means banner ads don’t translate well to the mobile experience, but Facebook has gained some traction with its in-stream ads that often push users to download a smartphone app.

Facebook reported in the last quarter of 2013 that its advertising revenue represented 53 per cent of total ad revenue, up from 23 per cent a year earlier. It also saw an increase in “mobile daily active users” of 49 per cent year-over-year to a total of 556 million users. When you look at the number of mobile users actively using Facebook on a monthly basis, that grows to 945 million.

Since Facebook knows its mobile users are more active and more engaged on its social network, it has been pushing to reach more users on mobile and reach them more often. In April 2013 it even launched Facebook Home, an Android launcher app that put Facebook at the centre of a user’s mobile experience.

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