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Facebook to sell TV-style advertising

FacebookSocial networking giant Facebook has plans to sell TV-style ad spots on its site, costing the advertisers from $1m to as much as $2.5m a day.

Recent reports say that the company aims to launch the new platform later this year when it will offer short spots of 15 seconds to advertisers, aiming to challenge the traditional market leader, television networks.

Facebook is the largest social networking site in the world which, with well over 1 billion regular users as of last September, provides a vast customer base/captive audience ready to be targeted.

The company was floated on the stock market just over a year ago, with opening shares trading on Nasdaq at $42. By May this year, it had entered the Fortune 500 for the first time.

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