As part of a broader shift toward video content, Facebook is debuting new video-buying options today.
The new offerings invite ad partners to purchase and run ads exclusively on in-stream placements across Facebook and its Audience Network.
“With this update, we’re giving advertisers more flexibility and control to buy video ads the way they want and that meets their objectives,” a company spokesman said on Wednesday.
While still relatively new, Facebook’s video ad strategy is already showing signs of success. Across its flagship platform and Audience Network, internal data shows more than 70% of in-stream video ads — up to 15 seconds in length — are viewed to completion.
Adding to its video-related efforts, the tech titan just launched Watch, a dedicated platform for shows.
In addition, Facebook debuted a new camera in late March, which added the option of augmenting photos and video with silly filters and editing effects. Like Snapchat — which has recently inspired most of Facebook’s latest features — the camera also includes “reactive effects.”
Facebook is also working with advertisers to supply photo filters designed to market a particular product — or simply build brand awareness — and entertain users at the same time.
The social network increasingly owes its success to video, analysts agree.
“Facebook’s users are captivated by videos on the platform,” eMarketer forecasting analyst Monica Peart noted in a recent report. “Video, both live and recorded, is a key driver of growing user engagement and advertiser enthusiasm.”
The company's domestic display business is poised to jump 32.1% to $16.3 billion -- or 39.1% of the U.S. display market -- this year.
Peart attributed Facebook’s revenue growth to both usage and time spent, which continues to draw advertisers in ever-greater numbers.