Facebook launches Reels globally, betting on 'fastest growing' format
Facebook has launched its short video feature Reels globally, its owner Meta Platforms said on Tuesday, in a move to expand its fastest growing content format after reports that overall user numbers are down.
The social media giant, which recently announced a massive pivot into virtual reality products, lost a third of its market value after a dismal earnings report in February. It has highlighted Reels as a key priority to court younger users.
The focus on Reels comes as younger users have flocked in large numbers to rival platforms like TikTok. Internal research from Meta, leaked by former employee and whistleblower Frances Haugen, showed young users have been on the decline since 2012 and “only users 25 and above are increasing their use of Facebook”.
Reels had already been available in the US and elsewhere, but will now expand to a total of 150 countries and be more prominently featured on the Facebook and Instagram apps. The video tool will also offer more editing and sharing features, including allowing users to “remix” others’ videos to add their own commentary.
Meta launched Reels on Instagram in 2020 and on Facebook in 2021 as its answer to the explosively popular short-video app TikTok, which is owned by Chinese tech giant ByteDance.
The near-copy of the rival platform drew criticisms and allegations of anti-competitive behavior, as Facebook has a history of borrowing key features of its biggest rivals.
“Reels is already our fastest growing content format by far, and today we’re making it available to everyone on Facebook globally,” Meta CEO Mark Zuckerberg said in a Facebook post on Tuesday.
The company, which says video now accounts for half of the time people spend on Facebook, also announced new ways for creators
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