Facebook’s mobile business is booming. Some 1.25 billion people access the social networking service from smartphones and tablets each month, a 25% bump over a year ago. Now the company is in the process of building new mobile ad formats and advertising opportunities it hopes will deliver more immersive experiences for consumers and greater value for its advertisers.
With mobile accounting for 73% of Facebook's ad revenue in Q1 2015, Facebook is planning to debut its new mobile ad formats this week at Cannes. The company has been testing a number of different types of ads on the web, including video ads, banner ads, and even pop-up ads. Facebook’s chief product officer, Chris Cox, is due to discuss these new formats during his speech at Cannes this morning.