Facebook is launching a news mobile appcalled Notify with subscription contentfrom media partners like the Washington Post and Vogue.The Notify app lets users subscribe to contentfrom media partners on their smartphones.Facebook will be able to add news alertsin its daily notifications to a global audience.Facebook's "renewed push into mobile news reflectsa big, global shift in media consumption patterns,"said the Financial Times.Facebook's profit and revenue growth reflected this shift in media.The world's largest social media platformsaid its third-quarter revenue grew to $4.5 billionon the strength of its mobile advertising.Facebook, with 500 million users,has doubled its daily page views to 8 billion since April.The company also owns Instagram,a mobile photo and video-sharing app with 400 million users.Analysts were optimistic about Instagram's future growth.Research firm eMarketer predicted global mobile advertising revenuesfor Instagram will reach $2.8 billion by 2017,up from $595 million this year.This represents over 10 percent of Facebook's global advertising revenues.This strong showing has positioned Facebookto compete with major social media companiesas an advertising force, said analysts. "Facebook will drive growth and capture nearly 65%of social network ad revenues in 2015," reported eMarketer.Sheryl Sandberg is Facebook's Chief Operating Officer."In the medium to long run,we believe that we're not competing between Facebook and Instagram.We're competing with other forms of media,"Sandberg told analysts on a conference call.She said Facebook wants to grow in emerging marketsand bring more people online who are not using the Internet.The advertising environment on social media is very competitive.Social media platforms are fighting for customers on laptops,tablets, phones and even watches.Twitter is one of Facebook's competitors.Twitter's advertising revenues have slowed as the company struggles to add new users,reported the Wall Street Journal.Another competitor, Google, is selling more advertisementsfor less money on its own sites, said Ad Age.