More than 150 million people are now viewing Facebook Stories every day, so now is a fine time for the social network to begin the process of monetizing them.
Pointing out that Instagram Stories had roughly the same daily user total when testing of ads began in January 2017, Facebook revealed today that it is now testing ads in Facebook Stories in the U.S., Mexico and Brazil.
Chief product officer Chris Cox, who is now heading up the company’s Family of Apps group, said at the F8 annual developer conference earlier this month that Facebook expects Stories to overtake sharing on News Feed sometime next year.
And CEO Mark Zuckerberg said during the company’s first-quarter-2018 earnings call, “One of the interesting opportunities and challenges over the coming years will be making sure that ads are as good in Stories as they are in feeds. If we don’t do this well, then as more sharing shifts to Stories, that could hurt our business. But there’s upside real upside here, too, if we do a good job. We’re leading the way here with Instagram, and the results so far are promising, both on product quality and business performance.”
Eytan Oren, CEO of full-service agency Block Party, said his agency tracked 100 brands for two weeks in March and found that 79 of them were using Instagram Stories, while just seven were using Facebook’s version, but he added that a look at those same 100 brands today revealed that seven had posted Facebook Stories in the past 24 hours alone.
The ads being tested in Facebook Stories are similar to those that are found in its Instagram counterpart, with a full-screen format that sets them apart from News Feed ads.