Meta’s short video feature Facebook Reels will be available in more than 150 countries, in an effort to expand its fastest-growing content format, according to its owner Meta Platforms.
Reels is a top goal for the social media giant, which just lost a third of its market value following a disastrous earnings report.
As a response to the massively popular short-video app TikTok, which is owned by Chinese tech giant ByteDance, Meta released Reels on Instagram in 2020 and Facebook in 2021.
In a Facebook post on Tuesday, Meta CEO Mark Zuckerberg wrote, “Reels is already our fastest growing content format by far, and today we’re making it available to everyone on Facebook globally.”
Read more: Facebook introduces short video format ‘Reels’ for users in US
The firm also unveiled new opportunities for creators to make money through the Reels feature, which it claims now represents for half of the time people spend on Facebook.
It announced that it was expanding its programme to offer bonuses to creators in new countries and that it was experimenting overlay advertisements with banners and stickers to help creators earn ad money. It would soon start showing full-screen adverts in between Reels.
During its most recent earnings call, Meta said it had been harmed by Apple Inc’s (AAPL.O) operating system privacy changes, which have made it more difficult for brands to target and measure their advertisements on Facebook and Instagram. Macroeconomic factors, such as supply-chain disruptions, were also highlighted.
Last month, the company warned that revenue growth would decrease in the coming quarter due to rising competition for users’ time and a shift in engagement toward less-profitable services like Reels.
Meta also said that it will roll out upgrades that would allow users to create and view Facebook Reels in new places, such as its Stories feature, Watch tab, and at the top of the news stream. Users in some countries will also find Reels suggested to them in their feed.
