Connect with us
Anglostratits

Business

Facebook global advertising revenue to surpass $100bn in 2024 fuelled by innovation in AI and commerce to attract Gen Z

Published

on

Facebook

Retailers will invest $20bn on Facebook in 2024
Facebook has a global advertising audience of 2.2 billion. More than three-quarters of US adults use Facebook
But share of the global social market is dwindling: 88.9% in 2013 to 38.2% by 2025
Asian advertisers are targeting Western consumers on Facebook
Brands using AI tool Advantage+ see higher ROAS

WARC Media’s Platform Insights: Spotify

11 December 2024 – Social media pioneer Facebook has withstood the changing tides of digital global advertising for more than two decades. Still reigning with advertising revenue set to top $100bn this year, and a global advertising audience of 2.2 billion, Facebook is both the most-populous and best-monetised social media platform in the world.

Its revival since 2022 has been fuelled by APAC advertisers targeting Western consumers, alongside the fruits of AI innovation and a pivot away from targeting in favour of outcomes.

Alex Brownsell, Head of Content, WARC Media, and author of the report, says: “In this WARC Media report, we prise apart Facebook’s latest advertising revenue and user behaviour trends from those of its Meta parent company, and explore the platform’s latest revival in its quest to win a new Gen Z audience.”

Providing evidence-based insights on the challenges and opportunities Facebook has to offer, this latest Platform Insights report from WARC Media offers an overview of the key data points that advertisers need to know about the platform spanning investment, consumption and performance.

Investment: Facebook’s advertising revenue to cross $100bn in 2024

While Meta does not split revenue by platform, WARC Media forecasts show that Facebook’s Q3 2024 ad revenue grew 13.2% year-on-year, albeit slower than parent Meta (19.0%).

Facebook is on track to earn $100.1bn in advertising revenue this year, rising to $112.8bn in 2026, making it only the second media brand – after Google in 2020 – to exceed $100bn in global ad revenue.

But its share of the global social market is dwindling. In 2013, almost nine in 10 social ad dollars went to Facebook (88.9%). By 2025, ad spend on Facebook will have halved to 38.2%, with Instagram and TikTok, in particular, fast catching up.

Innovation in AI and commerce is drawing retailers of all sizes to boost spend on Facebook. Investment by retailers is set to top $20bn in 2024, per WARC Media forecasts. Meta studies claim that AI tools, such as Advantage+ Shopping Campaign (ASC), drive a 12% improvement in ROAS in two years. More than a third (38%) of Meta spend studied by Fospha went to Advantage+, reflecting a strategic shift of brands prioritising “ease of management” and greater performance gains from AI automation.

Analysis by WARC Media has found that Asian brands are spending more on advertising on Meta platforms, including Facebook, but are targeting users in other regions. This is a trend that has accelerated over the last 12 months.

In the US, advertising spend on Facebook is set to grow to $39.5bn in 2024, up 11.6% year-on-year. However, ad revenue growth will slow substantially in 2025 and 2026, per WARC Media’s latest forecast data. This is in stark contrast to Instagram, which is expected to achieve near-20% growth over the next two years. But, while Facebook’s growth has slowed, its advertising business remains twice the size of the US OTT market, four times that of TikTok and commands a 29% share of US retailer spend, according to Sensor Tower.

Consumption: Facebook’s global advertising audience exceeds 2.2 billion. In the US, more than three-quarters of adults use the platform

Facebook is one of the most popular digital platforms in the world, with a global advertising audience of 2.2 billion and 3 billion monthly users.

More than three-quarters of US adults use Facebook, according to a survey by GWI, with nine in 10 Americans using it to keep up with friends and family. Yet Facebook has long faced “age issue” stereotypes, and trails behind Instagram, TikTok and Snapchat in usage by Gen Z in the US.

To attract a new Gen Z audience for long-term growth, Facebook is prioritising creators, groups (for communities and information), long-form video (such as Stories and Reels), and moving away from news and political content.

Facebook ranks among the top three commercial media brands for reach in the UK across all age

groups, and sits in second place for all adults, behind only ITV. In Asia Pacific, Facebook is the

most influential platform for purchases in APAC, per GWI.

Performance: AI brings greater power to Facebook

Trust is likely to prove a key criterion for ad spend in media’s algorithmic era, as marketers cede control to AI tools to deliver their desired campaign goals.

Facebook scored highly in a Kantar survey of global marketers on its data trustworthiness, with only Alphabet-owned Google and YouTube doing better.

Over a million advertisers used Meta’s AI tools in the last month. Meta wants advertisers to trust its AI tools to help ads reach the parts untouched by traditional targeting methods as well as for creative diversity.

Some performance-driven advertisers are pivoting towards “full-funnel” tactics on Meta platforms including Facebook. Research indicates that balancing conversions with upper-funnel goals (e.g. reach and awareness) on Facebook can be more cost efficient, as well as stimulating future demand.

Brands using Image Generation saw a 7% increase in conversions, according to the company, and early tests by Fospha suggest that Meta’s AI tools such as Advantage+ are helping advertisers optimise for conversions and maximise ad spend returns.

Platform Insights: Facebook is part of a series of reports exclusive to WARC Media subscribers, which include an overview of platform investments, media consumption and performance insights. This latest report follows Platform Insights: Pinterest, TikTok, YouTube, Instagram, Snapchat and Spotify.
 



 

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

Published

on

Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

Continue Reading

Business

South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

Published

on

Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

Continue Reading

Business

Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

Published

on

Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

Continue Reading

Trending