Friday, 2023 September 29

Even blocked there, Facebook grabs 10% of its revenue from China

To gain customers globally, Chinese advertisers spent about US$5 billion on Facebook in 2018, making up about 10% of the social media giant’s annual revenue, which stood at  $55.84 billion .

Advertisers contributed $55.01 billion to the Menlo Park-based company’s 2018 revenue.

The fact that Facebook churns out a larger chunk of its revenue from markets outside its home turf is in line with its global audience demographics, with 38% were from Asia, 16% from Europe, 12% from the United States and 31.4% from the rest of the world.

Its daily active users hit 1.52 billion at the end of 2018, up 9% year-on-year.

That said, this world’s largest social networking service is still inaccessible to the world’s largest internet population in the Chinese mainland, although rumours about its China entry has been around for years.

Facebook’s latest move to enter China saw it, in last July,  filing with the local authority in Hangzhou, Zhejiang to register its subsidiary. Hangzhou is also home to Chinese e-commerce powerhouse Alibaba.

However, the record on the government corporate registry later just vanished after domestic and international media abused the news with a flood of coverage.

In response to this, a Ministry of Foreign Affairs spokesman said that China welcomes international companies that would obey its laws and regulations.

Editor: Ben Jiang

Jingli Song
Jingli Song
I believe Chinese innovation at various level needs to be known by the world.

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