The Economics of #FacebookDown
Facebook went down on Monday, September 28th for 43 minutes. The company lost over 1 million dollars in digital and mobile advertising revenue and frustrated the core group of their 1.5 billion users. Even more surprisingly, this was the third outage in September: the social media conglomerate also experienced intermittent issues on the 24th and 17th.
Here’s how it breaks down: Facebook averages 1.7 million dollars per hour in paid advertising. For digital marketing teams screen time is money, and on Facebook half an hour means $850,000 of advertising opportunities lost. For the record, that’s $28,334 per minute. In addition, the company saw stocks fall about 4% at the close of Monday, September 28th. It was a weak day for the market, but the smattering of outages for the generally incredibly consistent website certainly is not helping matters.
#FacebookDown by the Numbers:
$1,700,000 per hour
$850,000 per half hour
$28,334 per minute
$472 per second
Every cloud has a silver lining, at least for observers: the outage drove thousands of users to Twitter, where jokes could abound under the hashtag #FacebookDown. Self-aware brands and social media marketers did not miss the opportunity to get in on the fun. Here are some of the best tweets from the 43 minute-long roast hosted by Twitter:
— Ruth // PLS NIALL (@pop_ruth) September 28, 2015
Do you feel that your brand lost money or was otherwise affected from 3:03-3:45 PM EST this Monday? Tweet us @ovrdrv with your answer.