Facebook reaches more than 8 billion daily video views

Once a website where people mainly shared texts and photos, Facebook has become a popular place to view and share short videos.

Don’t expect that growth to slow down anytime soon.

On Wednesday, after the company reported third quarter earnings that beat Wall Street’s expectations, Facebook CEO and founder Mark Zuckerberg said that the site has more than 8 billion video views daily. That’s double the amount of video views the social network reported in April.

Zuckerberg shared a graphic in a Facebook post Wednesday, illustrating the site’s growing size.

fbgrowth

Though Facebook does not disclose how much money it makes from video advertising, the company has been ramping up those efforts and its executives have signaled it’s paying off. The company has also rolled out 360-degree videos, slideshow ads, profile videos along with other tools this year as more people turn to their phones to watch short video clips.

“Video on Facebook gives marketers not just mass reach but better cross device targeting and measurement than we believe is available on any other platform,” said Facebook COO Sheryl Sandberg in a call Wednesday to investors.

Research shows that video ads complement television ads, Sandberg noted.

Some analysts also believe that video ads will become Facebook’s biggest business.

“If recent trends are any indication we feel the potential of the scale and power of the Facebook platform is already having an impact,” wrote Bob Peck, an analyst for SunTrust Robinson Humphrey in a note before its third-quarter earnings.

Photo from AFP/Getty Images

 

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