Facebook’s blow out quarter adds to notion that all digital revenue growth going to few brands
The social network grew its revenue 63 percent, to $6.24 billion, while monthly active users hit another new high of 1.71 billion
The social network Facebook now has more members than there are humans on the face of the Earth. OK, maybe not that many, but it feels like it.
Today the social network reported its second quarter earnings, saying that monthly active users hit 1.71 billion during the quarter.
Just how good was its quarter? Facebook grew revenue 63 percent, to $6.24 billion.
Facebook’s earning statement didn’t need to say much.
“Our community and business had another good quarter,” were the words Facebook founder and CEO Mark Zuckerberg let the PR folk put in his mouth. What else need be said?
What I see is a company, like Google, that is doing it via advertising. Of course, paid content believers have a point that with audiences as enormous as Facebook, it is easier to sell that advertising. True, but that remains where the money was, is, and will be. Prove to me that there was, is, and will be huge dollars to be found in paid digital subscriptions that will compensate for the loss of print advertising.
The political issue of the day is the rise of the one percent. It applies to the media, as well.