The service, called Premium Video Ads, will resemble short television spots, but will not be cheap. The ads reportedly cost anywhere from $1 million to $2.5 million per day, but considering that an advertiser will potentially be able to reach 1.2 billion Facebook users, it may not be all that bad a deal.
The service has been a long time coming, as Facebook was worried that it would upset its users with ads that auto-play, which is why the product has been tested over a three-month period. Facebook launched regular auto-playing videos last fall in order to gauge the response of its users.
The video ads will play without sound and users will be able to choose to scroll past the ad or click on it and watch the video with sound and in full-screen. Facebook says that users can expect to see the ads on their News Feed over the next few months.
Unlike other static ads on Facebook, the social network giant has said that it will screen content for quality and watchability. They will work with a company called Ace Metrix to review these ads before they are featured on users' News Feeds.