‘If you can’t beat them, join them!’
Facebook owned by Meta Platfrom Inc is now launching a short video function, Reels in more than 150 countries as a step to expand the growth of its content format.
The tech giant, which has recently lost 1/3 of its market value due to dismal earnings reports, has introduced the Reels function for the first time in 2020 on Instagram then on Facebook in 2021 but for certain markets only.
In a post on Facebook by Meta’s CEO, Mark Zuckerberg stated Reels can now be used worldwide as it is the content format with the fastest growth rate.
In summary, previously Facebook Reels could only be accessed in Canada, Mexico and India.
Facebook’s move to commercialize Reels is seen in line with the development of the current trend of focusing on short videos, spearheaded by ByteDance China’s TikTok app.
Facebook, which acknowledges half of its users use the app to watch videos, also announced a new way for content creators can generate revenue by using Reels.
According to him, Facebook is developing the program to give bonuses to content creators and test overlapping ads by using banners and stickers so that creators can earn revenue from ads.
