Facebook users spend more time watching videos, and short videos like Instagram Reels are growing rapidly. In the company’s second quarter earnings conference call, CEO Mark Zuckerberg stated that “video now accounts for almost half of Facebook’s total time.” On Instagram, TikTok’s competitor, Reels, is “engagement The biggest contributor to growth”.
Although he did not share more specific statistics, the new details indicate that as the company competes, Instagram’s Reels may gain more attention Creator talentZuckerberg also pointed out that the company’s focus on creators and shopping will also help it achieve its long-term goal of becoming a “Mutual Festival Company”.
Facebook revealed earlier this week that it is hiring an Instagram executive to form a new team focused on creating the meta universe. Zuckerberg said: “You can think of it as a physical Internet in which you live, not just watching.” “You can basically do everything you can do on the Internet today, and on the Internet today Some things that don’t make sense, like dancing.”
Zuckerberg’s remarks came as the company reported its strongest growth in years, with revenues of more than $29 billion, an increase of 56% over last year. The company also reported that the “monthly active number” exceeded 3.5 billion, although user growth in the United States was flat again.
Despite the strong data this quarter, the company warned that the rest of 2021 may be very different. Chief Financial Officer Dave Wehner (Dave Wehner) said that Facebook expects revenue and growth in the second half of the year to “significantly slow.” He also pointed out that Apple’s iOS 14.5 update allows users to opt out of social network advertising tracking, which will have a “greater impact” in the next quarter.
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