In a world full of answers you start your journey by asking the right questions
To put the some perspective on Facebook’s position as an advertising revenue engine it should be understood that advertisers spent in excess of $2.6 Billion on TV advertising during the 2008-2009 NFL season.
What is missing out of the analysis is this very simple comparison between the 2009 and 2010 revenues.
This indicates that Facebook’s revenue engine hasn’t mature beyond the “breakeven” stage that Fred Wilson described in mid-2009 when he estimated Facebook’s monthly ARPU to be about $0.25 (See What’s on the MobCon Radar for the Social Networks?).
All of which suggests Facebook is still struggling to discover new ways of monetizing all that traffic.
This suggests that the only way Facebook can meet the growth projections that are being published by analysts for 2011 (e.g. GigaOM and eMarketer) is for it to grow its user base beyond 1.5 Billion. That’s about 76% of all internet subscribers.