Facebook’s strong ad revenue gains show that marketers continued to gravitate to its platform, which became 30% more expensive compared with last year. The company forecast that demand will keep prices elevated, stating “we expect advertising revenue growth will continue to be primarily driven by price during the rest of 2021.” Facebook is in a strong position to command higher ad prices on its family of apps, though its Facebook Audience Network that places ads on other websites will face pressure from Apple’s restrictions on ad tracking that started this week. Some analysts forecast Facebook could lose up to billions of dollars due to the changes.
