Menlo Park, Calif.—Facebook Inc. plans to sell TV-like spots that would appear within users' News Feeds, charging advertisers as much as $2.5 million a day, according to a news report from Bloomberg.
Facebook plans to introduce the 15-second spots, the same length as its Instagram videos, later this year, the Bloomberg report found.
The move would heighten competition between Facebook and Twitter Inc., which earlier this week made its Amplify ad technology that synchronizes tweets with TV spots available to all advertisers. Amplify is designed to boost the impact of traditional TV advertising with accompanying social commentary. An initial client is ESPN, which has sold ads inside video clips shown on Twitter.