• GigaOm, Wednesday, February 22, 2012 12:10 PM

Eying bigger ad revenues, Facebook reportedly plans to introduce a new advertising format before the end of the month. According to leaked documents published by GigaOm, Facebook plans to upgrade its premium ads on Feb. 29. “The company expects the new ads to perform 40 to 80 percent better than its previous product,” Peter Corbett, CEO of iStrategyLabs, writes in GigaOm. 

“As the owner of a social creative agency, and as a rapacious buyer of Facebook ads for clients and for marketing my own company, I live for this kind of news,” Corbett writes. “In an age of over-sharing, these documents landed in my inbox with a splash. I am sharing them in the format I received them.” 

The Facebook presentation document describes a new type of premium ad as a “larger-format ad,” that make the site’s current ads -- which appear in the margins of users’ profiles -- look puny by comparison. In the document, Facebook promises that brands that buy the larger and more “interactive” ads will see a 16% increase in their “fan rate.”

Read the whole story at GigaOm »