In 2023, the revenue general by Meta Platforms (formerly known as Facebook Inc.) amounted to roughly 134 billion US dollars, up from around 116 billion U.S. dollars in the previous fiscal year. In 2022, Meta's revenue stood at 117.9 billion USD.
Meta's main source of income is digital advertising
As a side effect from being the biggest social network worldwide, Facebook is the leading platform for social media advertising and marketing with 94 percent of global marketers utilizing Facebook in their marketing efforts. The majority of the social network’s revenues are generated through advertising – in 2022, advertising revenue amounted to close to 113 billion U.S. dollars whereas payments and other fees revenues amounted to around two billion U.S. dollars.
User engagement on Facebook
Facebook’s enormous online audience reach and high user engagement rates situate the platform as an attractive advertising base for brands and companies. The most popular Facebook fan pages have more than 100 million fans – footballer Cristiano Ronaldo and singer Shakira are ranked as leading celebrity brand figures based on their number of Facebook followers. Popular types of content posted to Facebook include photos, links and status updates.
