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Facebook is planning on launching new video ads on its website over the coming quarter.

According to Ad Age, the social networking giant is looking for a cool $US1million daily rate for the four slots available on the site (nice money if you can get it).

Nothing has been finalised regarding the format or size according to the report but the ads are expected to arrive sometime in June or July.

The details of the ads are still sketchy but it’s believed they’ll appear in a video player that anchors to the right and left pillars of the Facebook desktop screen.

Videos are also expected to target different demographics but only in a coarse-grain approach based on sex and age (above or below 30).

With its massive audience, Facebook could effectively become a new TV network-equivalent for global advertisers looking to hit a large audience extremely quickly.

And with a $4million-a-day windfall, it’s hardly¬†going to do Facebook any harm either.

[via Ad Age]

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