Mark Zuckerberg says video accounts for almost half the time spent on Facebook
Facebook customers are spending much more time watching video, and short-form video like Instagram Reels is rising quick. Speaking throughout the firm’s second-quarter earnings name, CEO Mark Zuckerberg stated that “video now accounts for almost half of all time spent on Facebook.” And on Instagram, TikTok competitor Reels is the “largest contributor to engagement growth.”
Though he stopped wanting sharing extra particular stats, the new particulars recommend Instagram’s Reels could also be gaining extra traction as the firm vies for creator talent. Zuckerberg additionally famous that the firm’s focus on creators and buying would additionally assist it attain its long term purpose of changing into a “metaverse company.”
Facebook revealed earlier this week that it was tapping an Instagram exec to begin a brand new crew targeted on making a metaverse. “You can kind of think about this as an embodied internet that you’re inside of rather than just looking at,” Zuckerberg stated. “You’re basically gonna be able to do everything that you can on the internet today, as well as some things that don’t make sense on the internet today like dancing.”
Zuckerberg’s feedback come as the firm reported a few of its strongest development in years, with income of greater than $29 billion, a rise of 56 % from final yr. The firm additionally reported greater than 3.5 billion “monthly active people,” although person development in the US as soon as once more remained flat.
Despite the sturdy numbers this quarter, the firm warned that the remainder of 2021 may look very totally different. Facebook expects income and development to “decelerate significantly” in the second half of the yr, stated CFO Dave Wehner. He additionally famous that Apple’s iOS 14.5 replace, which permits customers to choose out of the social community’s advert monitoring, would have a “greater impact” subsequent quarter.
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