Report: Facebook Seeking 7 Figures for Video Ads

Facebook is asking for 7-figure commitments for video ads set to launch on the platform this summer, according to a report.

Citing "three executives briefed on the product," Advertising Age reports that Facebook is banking on a $4 million-a-day business "right out of the gate" for video ads. As AdAge previously reported, the ad units would likely be autoplay, meaning they will start playing as soon as you open the page, and will expand "beyond the main News Feed real estate to cover the right- and left-hand rails of users' screens on the desktop version of Facebook."

Facebook's pitch to advertisers is that there are four slots available: women over 30, women under 30, men over 30 and men under 30. The ads will run 15 seconds and Facebook will not expose users to more than three of the ads a day, according to the report. Facebook is asking upwards of $1 million for each unit Read more...