Facebook, Inc. is pioneering a new age of people-based advertising – targeting relevant ads to actual people or audiences, not content. In the United States, during 2014, mobile accounted for 24% of consumer media time, but only 8% of advertising spend. Facebook accounts for a full 20% of mobile time spent in the U.S. The “catch up” of ad spend to media time provides a powerful secular tailwind to Facebook and other mobile-centric advertising platforms.
From Baron Funds’ second quarter 2015 commentary.
