Facebook launches Reels globally, betting on ‘fastest growing’ format
Facebook is launching its short video feature Reels to more than 150 countries, its owner Meta Platforms said on Tuesday, in a move to expand its fastest growing content format.
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.