In yet another illustration of Facebook’s continually growing power, the social media giant is now raking in more ad revenue than ever before — and now more than the traditional media powerhouses.
According to SEC filings obtained by Variety, Facebook generated $9.1 billion USD in ad revenue in North America over the first three quarters of 2016 alone. That $9.1 billion USD exceeds the likes if the $6.7 billion USD generated by Disney and the $5.4 billion USD generated by CBS over that same period. In fact, it even exceeds that of Comcast’s $7.6 billion USD. For comparison’s sake, Facebook trailed Comcast last year when the two brought in $5.5 billion USD and $6.6 billion USD over the same period, respectively.
Facebook’s incredible growth means that it’s now generating more ad dollars than the largest broadcasting and cable television company in the world; it’s a perfect illustration of the shift in advertising focus in recent years. It’s worth noting, however, that Facebook still trails ad king Google by a hefty margin. In the first three quarters of 2016, the Menlo Park-based technology giant generated $21.5 billion USD.