Meta is expanding its short-video product Facebook Reels for iOS and Android, now to be featured in 150 countries, according to a company blog post Tuesday (Feb. 22).
Meta will also be adding new tools to help creators make money.
Reels is the company’s “fastest growing content format.”
The company will be debuting its Reels Play bonus program, which will pay eligible creators up to $35,000 a month based on views.
In addition, there will be direct monetization options for Facebook Reels from ad revenue and fan support. The company said it’s expanding tests of Facebook Reels Overlay Ads for creators in the U.S., Canada and Mexico.
That will entail banner ads appearing in a semitransparent overlay, and sticker ads — static images that can be placed by a creator anywhere on their video.
There will also be tests of new suitability controls. That will come with publisher lists, blocklists, inventory filters and delivery reports, and will give advertisers more control over how their ads appear.
Facebook will also be debuting new features like Remix, allowing users to make one’s own video alongside an existing public one, and allowing for 60-second reels. There will be features to save reels as draft and for video clipping tools for the reels.
PYMNTS wrote that there’s more competition among social media platforms, including from Snap, which recently posted its first quarter with positive net income since going public in 2017.
Snap had a 20% increase in active daily users as of that quarter.
Snap has also been expanding its augmented reality video capabilities, with a new Snap AR self-service Lens Web Builder tool that content creators and brands can use, allowing for various kinds of engagement.