Africa’s population stands at 1.2 Billion while Facebook’s cumulative user base now stands and just over 2 Billion, of which 1.3 billion people use it everyday. The numbers are both impressive and Facebook has made an advertising business out of them only rivalled by Alphabet which owns Google.
As a result,Facebook is raking in more money than before in a single quarter larger than Rwanda’s GDP. It announced its Q2 revenues of $9.3 Billion and a net profit of $3.89 Billion after deducting operating expenses. The only constraint the blue social networking behemoth faces in its way to increase these numbers is the fact that it can’t squeeze more ads in its news feed . Otherwise, the numbers would have sounded better.
This might see Ads coming to its messaging services like Messenger and WhatsApp to increase its Ad dollars on top of the social network making foray into original video programming, much like YouTube.
It is rumoured that Facebook will create a dedicated video section this August with professional crowd sourced video content and original scripted content to get part of the television Ad spend from big advertisers and the like.
Facebook has proved beyond doubt of being a social giant, owning almost half of the most used social networking services across different worlds we live in, including Uganda. These include Facebook, Messenger, WhatsApp, Instagram among others. The only omission would be SnapChat but Facebook has almost cloned most of its features and incorporated them into its larger social stable.