Facebook adds £2.2bn to the UK economy

By @gordonmacmillan,

The way things are at the moment the UK needs all the likes it can get. Luckily we have quite a few, according to a Deloitte study out today. It looks into the economic impact of Facebook across Europe and says Facebook is worth as much as £2.2bn to the UK economy and that the social network supports as many as 35,200 jobs.

The figure came as part of an Ad Boost programme that Facebook has announced, which will see it give away up to £4.2m of free advertising to help small businesses get started and grow their business on Facebook.

The Ad Boost programme aims to reach some 50,000 small businesses across the UK, France, Germany, Spain and Italy and will offer businesses the chance to claim up to £80 of ad credits.

The Deloitte report shows how Facebook already supports £1.14bn in “business participation effects” in the UK as businesses, predominantly small businesses, use Facebook’s free pages to promote their brand, raise awareness, advertise and generate new business. This activity it says supports 18,400 jobs in the UK.

This makes the UK one of the largest “Facebook economies in Europe. We’re level pegging with Germany, see infographic below:

FacebookInfographic 520x2549 Facebook says its worth £2bn to the UK economy, as it announces free ads for SMEs

Full article at:



Facebook secret projects…

Over the weekend, Facebook quietly registered a series of “newsroom” domains. Could a new journalism project be next for the social media giant?

On Sunday, Facebook quietly registered a series of “Facebook Newsroom” domains–a move that seems to signal that Facebook’s entering the media content game in a new way. Three domains were registered, according to Fusible, facebook-newsroom.com, facebook-newsroom.org, and facebook-newsroom.net. Facebook is listed on Whois.com as the registrant, administrative contact, and technical contact for all three.

The Facebook Newsroom project looks like it could be similar to another Facebook project: Facebook Studio (facebook-studio.com) is a community for advertisers and marketers that already has more than 400,000 participants and observers.

Several other domains were also purchased by Facebook last week. Facebook purchased timelinemoviemaker.com, timelinemoviemaker.net, and timelinemoviemaker.org. In addition, fborigin.com and fborigin.net were also purchased by the social media giant.

The last official corporate communication from Facebook was last week’s massive Timeline app blitz.

Update: According to a media representative for Facebook, the new domains are “related to an upgrade of Facebook’s press room.” It is important to note that Facebook is widely expected to announce an IPO in 2012.


BY Neal Ungerleider on Fast Company