A deal worth nearly £1bn to boost Facebook’s video ads will help the internet giant expand into the lucrative niche of paid content delivery.
Facebook said the deal, which was announced on Thursday, was a game-changer for the internet company and a significant achievement for the UK-based company.
“The opportunity to increase our visibility and reach in video is a game changer for us,” said Mark Zuckerberg, Facebook’s chief executive.
The move comes as Facebook faces growing pressure to increase its online presence.
Its revenue from paid advertising has grown by a quarter over the past year to £13.5bn, up from £10bn in the year to the end of March.
Advertisement The deal is the latest in a series of deals announced by Facebook in the past three years that has seen the company spend tens of millions of pounds on content marketing.
The biggest of these was a $500m investment in the social networking giant in March last year, but it has also been criticised for not spending enough on advertising.
It has also faced criticism from privacy advocates for not using more data to track people’s online activities and for failing to keep up with emerging technology.
Facebook has faced criticism for its record on privacy and digital rights since it was acquired by Amazon for $2.7bn in 2013.
The social networking company said it was building a new group of partnerships to increase user engagement with its products, including its “connecting” feature for mobile devices, and that it was working to bring more native video advertising to its platforms.
Facebook already has a number of partnerships with mobile app companies, such as Snapchat, that allow users to view photos and videos posted by friends.