Facebook may be about to make a push into short-video-sharing, which could mean big money.
(Read More: Facebook's Instagram May Be Getting Videos Soon )
The social network is hosting a press event at its headquarters Thursday. While Facebook hasn't confirmed what product it will be previewing, it's widely thought that the company will announce a video function for its photo-sharing app Instagram .The video addition is suspected to be similar to Twitter's Vine, a video-sharing app that lets users post six-second videos.
Such a move could help Facebook finally start to make money from Instagram, said Rob Jewell, CEO of Spruce Media, a marketing developer that builds on the Facebook platform.
"Facebook is sitting on a sleeping giant in video advertising," he said. "We believe that in 2014 Facebook will make a big play in video advertising, and while they are already sitting on a tremendous amount of video, adding video in Instagram would surely increase that inventory significantly."
Facebook—which on Tuesday announced that 1 million companies and brands now advertise on its platform—has enormous scale, and video advertisers want to get their hands on it, Jewell said.
But Facebook may also be threatened by growth in Vine's platform.
(Read More: Facebook Changes Ad Strategy to Woo Madison Avenue )
Earlier this month, Twitter announced that Vine had reached 13 million users. The company didn't reveal how many were active, but the social analytics company Topsy estimates that users post 12 million Vine videos on Twitter every day.
Vine's growth shows a clear demand for lightweight video-sharing, according to Jewell, and Facebook is well-positioned to enter the activity.
"It's starting to hit a tipping point," he said. "From a timing standpoint, it's the right time for Instagram to make a play in lightweight video-sharing. It took Instagram over a year to get to 13 million users (where Vine is today). The year following this Instagram grew to over 100 million users. If Vine were to follow that growth rate over the next year with no competition—Instagram would miss the boat."