Facebook announces Reels worldwide and betting on the fastest-growing format

Facebook announces Reels worldwide and betting on the fastest-growing format. 

Facebook has announced that it will launch its short videos feature Reels in more than 150 nations. 

The company that owns its Meta Platforms declared on Tuesday as part of a plan to broaden its most popular and fastest-growing content format.

The social media company that recently lost a third of its market value due to a poor performance report emphasized Reels as one of its top priorities.

Meta has launched Reels for Instagram in 2020 and will launch Reels it will launch Reels on Facebook in 2021. 

It responds to the wildly popular short-video platform TikTok, which owns Chinese technology giant ByteDance.

“Reels is already our fastest-growing content format by far, and today we’re making it available to everyone on Facebook globally,” Meta CEO Mark Zuckerberg said in a Facebook post on Tuesday.

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Facebook, which states that video is now responsible for 50% of people’s time on Facebook, also revealed the possibility for artists to earn money from the Reels feature.

It announced that it expanded its program to offer creators bonus payments to more countries and tested overlay ads with stickers and banners for creators to earn advertising revenue. 

In addition, it will introduce full-screen ads between Reels shortly.

Meta announced in its most recent earnings that it had faced the wrath of Apple’s privacy modifications in its operating system. 

It made it more difficult for advertisers to tailor and evaluate their ads for Facebook or Instagram. Meta also mentioned macroeconomic concerns such as disruptions to supply chains.

In the last month, the tech giant of 18 years also made it clear that it anticipates a slowing of revenue growth over the next quarter because of increasing user competition and a shift in user focus on features such as Reels, which produce less revenue.

In its announcement on Tuesday, Meta also said it would release updates that allow users to make and view Facebook Reels in new places.

It includes its Stories feature, the Watch tab, and its news feed’s upper right-hand corner. 

In certain countries, users can also see suggested Reels on their news feeds.