Metas Facebook escalates TikTok rivalry launches Reels globally

Facebook Meta raises the issue of TikTok, launching Reels around the world

Meta Platforms Inc. intensified its attack on TikTok by launching its short video Reels product for all Facebook users worldwide on Tuesday and introducing many new features for advertisers.

In one of the business challenges facing the social media giant, Meta is in the midst of a tense battle with TikTok, which was the most downloaded app in 2021 and surpassed Instagram in popularity among aspiring new users.

Meta also suffered the effects of the privacy feature introduced by Apple Inc. last year which disrupted its digital marketing business. Since the Feb Meta report. 2 lead, when highlighting these problems, the company’s market value has dropped by more than $ 300 billion.

In a revenue stream call, Chief Executive Mark Zuckerberg announced that Reels has become the fastest growing Meta content format, having acknowledged TikTok as a terrific rival.

Mr. Zuckerberg also noted that as more users spend time on Reels, they spend less time on Meta’s Feed and Stories formats, which currently generate more revenue for ads.

With Tuesday’s announcement, Meta is taking steps to address these issues.

By expanding Facebook Reels worldwide, Meta will launch its new content format for users in more than 150 countries. Meta on Tuesday will also begin testing new ads that will play alongside Facebook Reels from all creators in the US, Canada and Mexico and “many countries in the coming weeks,” the company said in a blog post. The company also said that. will introduce a number of new video-making features and monetization features.

“We want Facebook Reels to be the best place for creators to connect with their community and make a living,” he wrote. Zuckerberg in the post Tuesday.

The company said the video now accounts for more than half of the time users spend on Facebook and Instagram.

Meta launched Reels in August 2020 to its Instagram users in the US as a company response to TikTok, owned by ByteDance Ltd. The company then launched Reels for US Facebook users in September 2021. Prior to Tuesday’s announcement, Facebook Reels had already been launched. is available in Canada, Mexico and India, while the Instagram Reels are already available in many countries.

In a letter to investors, analyst Michael Nathanson on Thursday compared Meta and Reels efforts with the company’s successful transformation of the 2018 news format. That format, where photos or videos disappear within 24 hours, was developed by Snap Inc. but in the end it also seems to be popular among Meta users.

“We are encouraged by Facebook’s success with the news and we believe they have a playbook and will be successful in making money through Reels,” wrote Mr. Nathanson.

Source link

Sanjit
Sanjit

I am Sanjit Gupta. I have completed my BMS then MMS both in marketing. I even did a diploma in computer software and Digital Marketing.

Articles: 4326

Leave a Reply

Your email address will not be published.

%d bloggers like this: