Facebook Reels, which first went live in the United States in September, is now available in more than 150 countries around the world. The feature, which is an important part of Meta’s response to the TikTok threat, will allow creators to upload short-form video to Facebook and cross-post Reels from Instagram to reach a wider audience. In addition to today’s global launch, Facebook is also introducing more creative tools and new methods for creators to monetize their roles through ads and, soon, stars.
Tiktok vs. Instagram Reels vs. Facebook Reels
While Reels originated as a strategy to compete directly with Tik Tok with a feature in the Instagram app, Meta quickly realized that it could be a more powerful counter-offensive if Facebook were included. As a result, during its earnings call for the fourth quarter of 2021, the company boasted that Reels is now by far the “fastest growing content format.” Reels were the biggest driver for Instagram growth, according to the company, and also grew “very quickly” on Facebook.
Reels, on the other hand, currently generates lower revenue than other content formats such as Instagram’s Feed and Stories; However, Meta expects this to improve over time.
In that regard, Facebook is extending testing of Facebook Reels Overlay Ads to all Reels artists in the United States, Canada, and Mexico. According to Meta, the test will be expanded to almost all 50+ countries where in-stream ads are now available by mid-March.
In-stream video ads are now only available on Facebook videos, not Reels. As a result, these new overlay ads are Facebook’s first attempt to monetize roles directly through ad revenue.
Participants in the ad tests have the option to choose between two different ad sizes: banners and stickers. Rather than pausing the video to show the ad, these are non-interrupting ads that appear clearly above the content being played. Stickers are static images that can be placed anywhere on the roll, just like other stickers. Banner ads appear as a semi-transparent overlay at the bottom of a roll, while banner ads appear as a semi-transparent overlay at the bottom of a roll. The ad that best suits the viewer will then be displayed in the frame chosen by Facebook.
What is creator’s revenue share on Facebook?
During testing, Meta says it will use the same revenue split with creators as it does now for its in-stream advertising program, which is 55 percent for the creative and 45 percent for Facebook. However, as the tests progress, this may change.
Creators already enrolled in the existing In-Stream ad program will be enrolled in the new overlay ad experiments by default. (Over the past few months, a select group of people have been invited to test these overlay ads.) Others can check their eligibility and join here.
In the coming months, Facebook will roll out full-screen and immersive ads between Reels in a number of global countries. These formats have been in beta testing since October.
However, not all Facebook roles will contain ads. According to Meta, whether or not commercials are included in a reel is determined by a number of criteria, including advertiser targeting and the value of the ad to the viewer. If they choose, creators can opt out of banner ads for individual roles in Creator Studio.
Meanwhile, the new banner and sticker ads will give advertisers brand suitability options such as publisher lists, block lists, inventory filters, and delivery reports.
Creators will soon be able to monetize their reels with Stars, a virtual tipping system already available on Facebook Live. Successful creators also currently receive direct payments. The Reels Play bonus program, which is part of Meta’s larger $1 billion creators fund, could lead to big incentives — the company claims some creators make up to $35,000 a month. However, the long-term viability of maker funds is still debatable.
Facebook Reels Features
Aside from the monetization options, Facebook is now releasing Remix, 60 seconds Reels, Draft and Video Clipping, which it first announced last year.
Remix is similar to Tik Tok Duets in that it allows creators to assemble their own reel with another publicly uploaded reel (or part of a reel) on Facebook. Facebook creators can now also use this tool.
Reels caught up with video length after Tik Tok increased the video length from 60 seconds to 3 minutes. Last year, Instagram Reels upgraded to 60-second 30-second movies, and now Facebook Reels will do the same.
Drafts and Video Clipping are two other tools that will be available soon. Creators can work on their content and save it for later release using drafts. The video clipping option will be available in the coming months, making it easier for creators who traditionally publish live or elongated content to test Reels.
Is Facebook Reels Monetization Available In India?
Facebook will make short videos a bigger part of the overall Facebook experience as part of its greater commitment to investing in Facebook Reels. Creators from all supported regions, including the United States, can share their Instagram Reels for Facebook recommendation.
What it means for Facebook?
In the coming weeks, Facebook will allow users to share their roles with Stories, view roles in the Facebook Watch tab (which will soon include role creation tools), and place roles and creation tools at the top of users’ news feeds. (those are now simply called “Feeds” in another recent change). As you browse your feed in some countries, Facebook may suggest clips you may like.
Reels is one of Meta’s largest product investments, and the company has openly highlighted the threat posed by Tik Tok, which Meta CEO Mark Zuckerberg has described as a “great competitor” that is “developing quite quickly from a very large base.”
Tik Tok isn’t Meta’s only problem, though. For the first time, Facebook reported a decline in the number of daily active users in the fourth quarter — an indication that people don’t use Facebook as often as they used to. At the same time, Apple’s privacy measures are expected to reduce Meta’s revenue by $10 billion this year, causing a decline in advertising activity. Meta recognizes that to be successful, Facebook must emulate artists and provide users with alternatives to social networking, such as watching videos, listening to music, or purchasing – all of which have seen significant investment in recent years.