Reports show that Facebook earned $5 billion in China in revenue. Remember that Facebook has been prohibited in China since 2009.
According to reporting by TheStreet and a research note from Pivotal, it’s estimated that Facebook made anywhere between $5 billion and $7 billion from Chinese advertisers. This figure is about 10% of Facebook’s 2018 revenue.
Facebook’s 2018 filing confirms that revenue came from resellers “representing advertisers” based in China. Facebook apparently has an unofficial Chinese office, through its links with a Chinese company called Meet Social. Meet Social reportedly places 20,000 adverts per day on Facebook via its software platform. This made Facebook to Earn $5 Billion in China just in 2018.
Facebook has its largest market in the US while being followed by Russia, Turkey and Canada.
There has been speculation that Russia could also ban Facebook in the country for not complying with data regulation laws. In Russia, online service providers and platforms must only store the data of Russian citizens in Russian soil.
Facebook CEO Mark Zuckerberg was recently slammed with data and privacy scandals leaving less time for him to do other things. He has however in the past worked hard to try and re-enter the Chinese market after the 2009 ban.
Picture Credit – Mark Zuckerberg Instagram