The Facebook Economy
Facebook continues to gain popularity and commercial success, as more and more people around the globe sign-up and using additional applications (apps). There are well over 550,000+ apps that are used on Facebook and millions of pages with everything from personal information, home-made videos and advertisements. With over seventy percent of their 1.79 billion users engaging with apps every month, it's no wonder that there are well over two million app developers. Zynga, Facebook’s top application developer, made $250 million in 2009 and continue to be profitable. Of that amount, $80-$150 million is estimated to be profit, more net profit than Facebook itself made.
Facebook’s Most Popular App Developers
The following represent the most downloaded and used apps on Facebook. Although this list changes every year, many of these developers continue to hold top spots.
Zynga, Rock You!, Electric Arts, CrowdStar, Playdom, Causes, Slide, 6 Waves, Topzy, iLike, MindJolt, RIM
Facebook Pages and More
In 2009, there were 1,500,000 active Facebook pages. Since then, this number has grown exponentially. In 2009, the average value per fan is $136.38. Extrapolating on that, many celebrity pages would be worth enormous sums:
If Michael Jackson were still alive and had 13.3 million fans, he would have a page worth $1.8 billion. Family Guy’s page, with 9.5 million fans, would be worth $1.3 billion. Both Lady Gaga and Barack Obama each have 9.1 million fans (many of them might even be the same), worth $1.2 billion each. Vin Diesel’s nine million fans create a $1.1 billion worth. Starbucks $1.1 billion page has 8.2 million fans, just below the $845 million that South Park fans bring.
2009 Most Popular Facebook Pages
To create this estimated dollar amount for fan pages, the pages generally represent celebrities or international political personalities. For the year ending in 2009, the following pages were the most popular:
Facebook’s User Statics
500,000,000+ people used Facebook in 2009. 200 million of those users signed on every day, with an average time of 55 minutes a day. If those users were all working for $5 an hour instead of going on Facebook, they would collectively earn $916,000,000 a day!
Advertisers and Revenue
In the first quarter of 2010, 176 billion display ads were posted on Facebook. These ads represent 16 percent of the display ad market (which also includes banner ads and email advertising). Facebook says its advertisers have quadrupled since 2009, and although their share price is still below the IPO price, revenue continues to grow.
What if Facebook were a country? They would be the third most populous in the world, after China and India. And like many other countries, they too would be in debt. Current valuation of Facebook estimates their value from between $7.9 to $11 billion. Current share price continues to hover between $35 to $40 per share.