Facebook is predicting the decline of text

The amount of text being posted on Facebook is declining, according to one of the company's executives, who believes the social network will "probably" be "all video" within the next decade.

Nicola Mendelsohn, vice president for Facebook in Europe, the Middle East, and Africa, said video content on Facebook is growing more quickly than the company ever anticipated.

When asked at Fortune's Most Powerful Women International Summit in London where Facebook would be in a half decade in terms of mobile and video, Mendelsohn said: "If I was having a bet, it'd be video, video, video."

Facebook CEO Mark Zuckerberg has previously spoken about how important video is to Facebook but Mendelsohn went a step further as she predicted the end of the written word on Facebook.

On the shift toward video, Mendelsohn said: "The best way to tell stories in this world- where so much information is coming at us-actually is video. It commands so much information in a much quicker period so actually the trend helps us digest more of the information in a quicker way."

Mendelsohn, who has built her career in the advertising and marketing industries, used a series of figures to back up her argument. Facebook's daily video views have gone from 1 billion to 8 billion over the course of a year. Text posts, meanwhile, are declining year-on-year, she said.

Facebook users watch an average of 100 million hours of video on mobile every day, added Mendelsohn, who oversees 433 million Facebook users in the EMEA region.

The social network's new live video feature is also "a bigger, faster phenomenon" than Facebook expected, Mendelsohn added. Live videos receive ten times more comments than pre-recorded videos, Mendelsohn said, adding "engagement is much higher."