Companies paid up to $5.6 million for a 30-second commercial time slot during Super Bowl LIV on Feb. 2, which will be aired by Fox. The highest price for advertisement air time during Super Bowl LIII, aired by CBS, reached $5.3 million for a 30-second slot.
Facebook's ad will promote its Groups feature, which gives users the ability to create a place on the social media site to communicate with other users about shared interests and events.
The tech giant's "More Together" campaign portrays Facebook Groups as a way for Facebook users to connect with certain like-minded individuals. The Super Bowl ad featuring Rock and Stallone will likely play on this theme, the Journal reported, citing a Facebook spokeswoman.
The commercial will be Facebook's first during the most-watched television broadcast of the year and is possibly an effort by the social media site to build consumer trust since it has come under scrutiny in recent years for its monopolistic behavior and lack of transparency during the 2016 U.S. presidential election.
Facebook has not traditionally spent a lot on advertising. It spent $382 million on ads in the U.S. last year while Amazon spent $1.84 billion on U.S. ads during the same time, the Journal reported.
The Super Bowl advertisers can reach tens of millions of potential customers at once. The game has surpassed an average audience of 100 million in the U.S. alone for each of the last nine years, peaking in 2015, when Super Bowl XLIX drew 114 million viewers.
Thomas Barrabi contributed to this report.