This is consistent with reports from TBI Research that found back in December 2009 that Facebook was about to hit a $1 Billion revenue run-rate.
How is the company doing it? Eldon breaks it out:
- $225 million from brand ads
- $50 million from Facebook’s ad deal with Microsoft
- $10 million from virtual goods
- $350 million from performance ads.
The last one, performance advertising, was Facebook’s biggest growth in 2009. It came partly from social gaming sites like Zynga advertising more, and partially from stronger international growth.
Performance ads are expected to grow to $600 million in 2010, but this year isn’t expected to be a year of ‘hockey stick’ like growth, says Eldon. Facebook will just steadily grow revenue.
If Facebook is going to become a big, multi-billion dollar giant, it won’t be for another few years.