Starting this summer, companies will be able to pay approximately $1 million per day to have their video spots show up in users’ Facebook feeds, according to a post in Ad Age.
The ads, according to an unnamed executive quoted in Ad Age, will be targeted to various audiences and will be capped at 15 seconds.
What kind of company would be willing to spend $1 million for a Facebook ad? The speculation is that Facebook wants to steal advertising dollars away from television. Plenty of large brands are willing to pay big for television exposure. Facebook is betting that its real estate will be just as valuable.
You can read more about Facebook’s video ad plans at adage.com.