Facebooks rolls out new feature on Reels with creative tools & ads

Social media behemoth, Facebook (now Meta) has now made its reels available globally after launching it publicly in the US last September. Facebook Reels will now be available globally in more than 150 countries.

The feature, which is an important part of Meta’s response to the threat of TikTok, allows creators to share video clips on Facebook or from Instagram to reach a wider audience.

Facebook will also be introducing more creative tools and new ways for creators to make money from the Reels via advertising.

Earlier, Reels was a way to fight directly with TikTok by providing a feature in the Instagram app. However, meta soon realized that it could pose a stronger counterattack if it also fetched Facebook into the mix.

As a result, the firm announced during its Q4 2021 earnings that the Reels are its fastest-growing content format by far now. The firm also stated that Reels was the major contributor to growth on Instagram and is growing very quickly on Facebook.

Although Reels monetizes at a lower rate compared to other formats, like Instagram’s Feed and stories, Meta is certain that this will change over time.

The firm increases tests of Facebook Reels Overlay Ads to Reels creators in the US, Mexico, and Canada. The test will enlarge to around 50+ countries by mid-March, where the in-stream ads are already available.

It is worth noting that in-stream video ads run only on Facebook videos and not on reels. This implies that the new Overlay Ads signifies Facebook’s first attempt to bring the advertising revenue directly to reels.

Moreover, during the tests, Meta also said it would be following the same share of revenue with creators for its in-stream ads program, which is 45% to Facebook and 55% to the creator. But this is expected to evolve as the test continues.

Source Credit - https://techcrunch.com/2022/02/22/facebook-reels-rolls-out-worldwide-along-with-new-ads-and-creative-tools/