Reels advertisements at Meta crosses $1 billion yearly revenue run rate

By Pranali Mehta  | Date: 2022-07-29

Reels advertisements at Meta crosses $1 billion yearly revenue run rate
  • Reels accounted for more than 20% of the time on the Meta platform
  • Meta noticed a 15% increase in view time on Facebook's Reels video player alone

Reels, a platform for creating short videos and a TikTok competitor, has reached an advertising revenue run rate of $1 billion annually. Besides, as per Meta Founder and CEO- Mark Zuckerberg- reels are now generating more revenue than Facebook/Instagram Stories.

According to Zuckerberg, people spent more time interacting with Reels on Facebook and Instagram in the months of April and June, up by more than 30%. (Q2). Moreover, reels accounted for more than 20% of the time on the Meta platform, according to information shared during the company's Q1 earnings conference.

While speaking on the company’s quarterly results recently, Zuckerberg mentioned that the firm’s efforts to improve the effectiveness of advertisements monetization for reels are moving swiftly than anticipated.

It would be crucial to note that the Reels video player on Facebook alone witnessed a 15% boost in view time.

Mark also insisted that Reels account for more than half of the content that is shared in messages on Instagram. He further stated that this rise of short-form video stands to be an eminent and immediate challenge

It has been reported that compared to Feed or Stories, reels do not currently monetize as quickly. Therefore, in the near future, the quicker Reels expands, the more money it really gains from higher monetizing surfaces.

Reels' current focus is on increasing ad load, enhancing performance, and making sure that advertisers can easily develop advertisements.

In order to enable users to connect to the material that is most relevant to them and advertisers to deliver more relevant advertising, the business is also utilizing AI to better analyze the content being produced in Reels.

Source Credit: https://www.timesnownews.com/technology-science/meta-crosses-1-bn-annual-revenue-run-rate-for-reels-ads-article-93176984

About Author

Pranali Mehta     aeresearch.net

Pranali Mehta

A chemical engineer by qualification, Pranali Mehta has dutifully walked down the slated path and worked in the chemicals industry for a year. Her passion for writing however, pushed her into experimenting with the same as a career. With over three years of experience...

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