Instagram News Updates:
According to a senior Instagram executive, “No two products are exactly alike, and ours are not either” in August 2020. He was referring to Reels, a TikTok feature or format that has gained popularity.
Instagram has also made a similar statement on Stories, which were first introduced by Snapchat. Of course, Reels and TikTok aren’t identical twins. But it won’t be wrong to claim that TikTok served as a major inspiration for Reels, and Facebook (as it was known at the time) did a fantastic job of copying and pasting while also adding its own flair. Instagram’s focus right now is reels.
Photos come last, followed by Stories, then Reels. Yes, a site for exchanging images is no longer only about photos. And you really can’t hold Instagram or Meta responsible for that.
200.00 billion. Yes, there are that many Reels “plays” on Facebook and Instagram. In reality, there are more than 200 billion. In a conference call with investors, Mark Zuckerberg, CEO of Meta, said this.
Reels plays on Facebook and Instagram surpasses 200 billion every day.
Not only that. Meta is now earning more money than ever because to Reels. According to Zuckerberg, Reels’ monetization is making significant progress. With the yearly revenue run-rate across all of our apps now surpassing $10 billion, up from $3 billion last autumn, we are also seeing significant growth with Reels’ monetization. Of course, Facebook and Instagram are both included in this. Reels is therefore popular on both platforms, while the business withheld the precise numbers for each platform.
Furthermore, according to Meta, Reels advertisements are currently used by three-fourths of its advertisers. According to Susan Li, chief financial officer of Meta, “We remain focused on further reducing the Reels revenue headwind and narrowing the monetisation efficiency gap with our more mature surfaces.”However, she continued, “because consumers browse more slowly through video content, we continue to believe time on Reels will earn at a lesser rate than Stories and Feed for the foreseeable future. TikTok can share some of the blame for how much money Meta is generating from mindless scrolling.
