Meta Crosses $1 Billion Annual Revenue Run Rate For Reel Ads

Mark Zuckerberg

Meta has surpassed $1 billion annual revenue run rate for ads on its TikTok rival short-video making platform Reels and Reels now has a higher revenue run rate than Facebook/Instagram Stories at the same time since launch. Is. Its founder and CEO Mark Zuckerberg has revealed this.

Zuckerberg said that in the April-June period, ‘we saw an increase of over 30 percent when people engaged with Reels on Facebook and Instagram.’

During Its First Quarter Earnings Call, Meta Announced That Reels Has Made More Than 20 Percent of the Time on Its Platform

“Our work on ad monetization efficiencies for Reels is actually progressing faster than we expected,” he told analysts during the company’s quarterly earnings call late Wednesday. I think we’re on track here and We need to take this forward.”

The company saw a 15 percent increase in viewing times in the Reel video player on Facebook alone.

“At Instagram, we see that reels make up more than half of the content re-shared in messages,” Zuckerberg said.

He Said the Development of Short-Form Videos is A Challenge

“Reel doesn’t monetize at the same rate as Feed or Stories yet. So in the near term, the faster Reel grows, the more revenue it will generate,” said the Meta CEO.

Outgoing COO Sheryl Sandberg said Meta, which launched Ads and Reels last year, is growing rapidly and “we see this as an area with great potential for future growth.”

“Right now on Reels, our focus is on increasing ad load, improving performance and making it easier for advertisers to create ads,” he said.

Featured Image via Instagram.com

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