Dive summary: 

• Facebook will soon be offering 15-second TV-style video advertisements on its social network; sources say the ads will go for approximately $2.5 million a piece.  
• This move follows in other sites' footsteps in an effort to capture dollars that typically go to traditional TV commercials; other sites offering similar ads include YouTube and AOL's HuffPost Live. 
• As the largest social network in the world with over 1 billion users, Facebook will call on its high numbers and heavy use during prime time hours—88 million to 100 million people each night—to attract advertisers. 

From the article: 

"The commercials will initially be sold on a full-day basis and can only be targeted to users based on age and gender, according to the people. That would be a break from how ad units are currently sold on Facebook, which lets marketers target ads based on location and areas of interest -- data points that television networks generally don’t offer. By relying on fewer categories, Facebook is mimicking the way television ads are purchased, an attempt to make the process more comfortable for executives accustomed to TV, the people said."