Top social media Facebook is launching the ‘Reels‘ feature in 150 countries at a time. This short video format has been called the fastest-growing content format in the current technology market.
Facebook’s parent company Meta Platforms on Tuesday announced the launch of a wide range of ‘Reels’ features. In 2021, Facebook has faced various controversies and criticisms. The number of daily users of the platform has dropped. At the end of the year, the market value of Meta fell by one-third. In such a situation, the company is putting more emphasis on ‘Reels’, according to Reuters.
Meta introduced the ‘Reels’ feature on Instagram in 2020. And the feature on Facebook has been launched in a limited range in 2021. The world’s top social media platform has launched the feature to compete with TickTock, an app owned by Chinese company ByteDance.
“By far our fastest-growing content format is Reels. Starting today, we’re going to make the feature available to all Facebook users around the world, “said Mark Zuckerberg, the company’s chief executive, in a Facebook post on Tuesday.
The company says that users spend half of their time watching videos on their platform. The company has also announced a new source of revenue for content creators through Reels.
Meta has announced plans to expand the range of bonus projects to inspire content creators. In addition to this, Facebook is also experimenting with the feature of placing advertisements on banners and stickers so that the producers can earn money from advertisements.
Facebook fears that the pace of revenue growth will slow down in the next quarter as well. On the one hand, stiff competition in the market, on the other hand, the interest of users towards small video formats like ‘Reels’ has hampered the nearly decade and a half old business structure of Facebook. Although users are interested in short video format content, organizations earn less from such content.
Meta said in an announcement on Tuesday that it would unveil a new update to allow users to use the Reels feature from new locations. Users of certain countries will get ‘Reels‘ suggestions in their news feed.