Shulou(Shulou.com)11/24 Report--

CTOnews.com, July 28 (Reuters)-data released by Meta on Wednesday show that the number of users and advertisers of Reels videos is growing rapidly and is rapidly catching up with the byte-beating TikTok.

It is understood that Reels videos on Facebook and Instagram are currently viewed more than 2000 billion times a day, up from 1400 billion last fall. Meta executive Justin Justin Osofsky said in an interview that Reels's growth has laid a foundation for users to further cash in.

"while Meta has been investing in artificial intelligence for many years, it is now moving to the forefront of its business to improve content recommendation and advertising in its services." He added.

In a conference call after Meta's second-quarter results, Zuckerberg said Reels's annual revenue operation rate had jumped to $10 billion, up from about $3 billion last fall and $1 billion last summer.

Root research firm Insider Intelligence estimates that TikTok's global advertising revenue in the same period is $9.9 billion, and global advertising revenue is expected to be $13.2 billion this year.

CTOnews.com Note: the annual operating rate is a way to predict upcoming revenue over a longer period of time (usually one year) based on past revenue data.

Debra Aho Williamson, chief analyst at Insider Intelligence, said one of the reasons for Reels's growth was Meta's advertising platform, which allows advertisers to carry out promotional activities seamlessly.

Susan Li, Meta's chief financial officer, says more than 3/4 of Meta advertisers place ads on Reels.

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