The CEO of the social media giant, Facebook, Mark Zuckerberg, in a shareholder meeting explained how Libra crypto project would bring more ad revenue to their company.
When asked about how Libra would help Facebook make more revenue in the shareholder meeting, Zuckerberg responded by going into Libra’s potential impact on e-commerce on the social media company, and its potential impact on advertising revenue.
Facebook’s CEO Mark Zuckerberg said that Facebook does not charge a set price for ads and instead works with a bidding system, where every business trying to advertise will bid to compete for ad space. According to Zuckerberg, the system allows them to get the “lowest possible price.”
The advertising on Facebook becomes more worthwhile for businesses, which could see them bid higher on ads and increase overall ad prices. This would effectively boost Facebook’s 0s advertising revenue.