Facebook users are spending more time watching videos on the social network. During the Q2 earnings conference, Mark Zuckerberg said the format accounts for nearly half of all time spent on the platform.
The CEO also revealed that the popularity of short videos like Instagram Reels is growing rapidly. These contents are “the biggest contributors to increasing engagement” on social media.
Although it didn’t share specific statistics, new information suggests that Reels is gaining more and more traction. Thus, the company is managing to attract more creators to the platform.
According to Zuckerberg, Facebook’s focus on influencers and online stores will help achieve the goal of becoming a “metaverse company”. To do this, an Instagram executive will start a team focused on expanding the new model.
“Think of an internet where you’re really into it, rather than just watching. You’ll be able to basically do everything you can on the internet today and other things that don’t make sense today, like dancing”, explains the CEO.
Dispute against TikTok and YouTube
Aiming to attract more creators to the platform, Facebook allows the monetization of all categories of videos. In addition, the company revealed that it intends to invest $1 billion for influencers by 2022.
Instagram is also adopting new strategies to be able to compete against TikTok. For example, the social network will focus on videos to compete for audience with the rival app.
Among the various actions, the Reels tool increased the content time limit to up to 60 seconds. The same model adopted by the competitor and which was essential to achieve higher levels of popularity.