Meta's TikTok-Style Instagram Reels Has Finally 'Graduated,' Says Mark Zuckerberg
Portfolio Pulse from Ananya Gairola
During Meta Platforms Inc.'s Q3 earnings call, CEO Mark Zuckerberg announced that Instagram Reels, the company's answer to TikTok's short video format, has become an established component of the platform. Reels has led to a 40% increase in time spent on Instagram since its launch and has reached a monetization milestone earlier than expected. CFO Susan Li anticipates that Reels will provide a modest revenue boost in 2024.
October 26, 2023 | 5:43 am
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POSITIVE IMPACT
Instagram Reels has become a significant part of Meta's platform, leading to increased user engagement and early monetization. This could potentially boost Meta's revenue in the future.
The success of Instagram Reels, as indicated by the 40% increase in time spent on Instagram and early monetization, suggests a positive impact on Meta's revenue. This could potentially attract more investors, driving up the stock price.
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