The social media giant, which recently lost a third of its
market value after a dismal earnings report, has highlighted Reels as a key
priority.
Meta launched Reels on Instagram in 2020 and on Facebook in
2021 as its answer to the explosively popular short-video app TikTok, which is
owned by Chinese tech 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.
The company, which says video now accounts for half of the
time people spend on Facebook, also announced new ways for creators to make
money through the Reels feature.
It said it was expanding its programme to pay creators
bonuses to more countries and was testing overlay ads using banners and
stickers for creators to earn ad revenue. It would roll out full-screen ads
between Reels soon.
Instagram Expands Remix Feature, TikTok to Introduce Paid
Subscriptions
Meta said during its latest earnings that it had faced hits
from Apple's privacy changes to its operating system, which have made it harder
for brands to target and measure their advertisements on Facebook and
Instagram. It also cited macroeconomic issues like supply-chain disruptions.
The 18-year-old tech behemoth last month also warned it
expects slowing revenue growth in the coming quarter due to increased
competition for users' time and a shift of engagement toward features like
Reels, which generate less revenue.
In its Tuesday announcement, Meta also said it would roll
out updates for users to make and see Facebook Reels in new places, such as in
its Stories feature, its Watch tab and at the top of the news feed. In some
countries, users will also see suggested Reels in their feed. © Reuters
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