Facebook Vice President on the "Explosion" of Video on the Platform
Leaders in media and advertising gathered Thursday night at the 64th Annual Ad Council Public Service Award Dinner. Cheddar's Kristen Scholer spoke with David Fischer, Vice President of Business and Marketing Partnerships at Facebook.
Fischer says the explosion in video on social media is impacting the way people consume content on mobile devices. He expects content creators to become more focused on producing content for a mobile-first experience in the future. To date, Facebook has seen its biggest advertising opportunity in its News Feed, but sees an increasing opportunity in the Stories platforms, especially on Instagram.
In response to Snap Founder Evan Spiegel's op-ed in Axios this week, Fischer says Facebook's focus is on its own platforms, and creating the experience that works best for people. Fischer says the future of Facebook is all about creating new ways for people to engage with content on its platform.
Stocks dipped Friday morning after the yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years and also following Fed Chair Jerome Powell's remarks on Thursday.
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.
