The average price of advertising on Facebook-owned platforms has risen 47% and this has helped the company's advertising revenue to a new high of $28.6bn, according to the latest company reports.
Advertising revenue, including from Facebook, Instagram and Messenger, rose 56.0% in the second quarter of 2021, the quickest increase in five years. This brings total ad revenue to a new high and even closer to $30bn.
As well as rising costs, the number of ads delivered rose 6% which helped advertising revenue growth. The company said it expects higher advertising prices during the rest of 2021 to...