Meta has launchedFacebookReels, its short video product for the blue app, across 150 countries.
This is likely a bid to restore its plummeting user base, and restore some ad revenue.
Later in September, it launchedthis feature in the US.
But is this global launch of Reels enough to right its sinking ship?
Stonks
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Its daily active user countdipped for the first time in history.
That resulted in the firm losing more than $250 billion from its market cap.
At the time of writing, Metas current valuation is $550 billion.
For context, its market cap was at $921 billion on December 31, 2021.
This has led to Meta slipping out of the top 10 most valuable companies in the world.
Thats not too encouraging.
To do all this, the company set aside a massive development budget.
The future isnt here yet.
Is Facebook Reels the remedy to whats ailing Meta?
Its no secret that TikTok has been eating Metas lunch and then some.
And, with that, leaving the platform.
Matt Navarra, a UK-based social media consultant, said this is where Metas opportunity lies.
Facebook seems set on squeezing money from Reels though.
The company has started testing newoverlay-styled adsin the US, Canada, and Mexico.
With Reelss global expansion, we can expect this feature to show up in more places.
Whats more, Facebook will also start inserting full-screen ads in-between two Reels in the next few months.
This is a hugely important monetary source for the company.
And it looks like Facebook Reels isnt the golden bullet Zuck is hoping for.
What this means is Facebook wont see an immediate uptick in ad revenue through short videos.
That’s one heck of a mixed bag.
He likes to say “Bleh.
That’s one heck of a mixed bag.
He likes to say “Bleh.”
