Short-form videos are everywhere, largely thanks to the success of TikTok in recent years and everyone wants to be a player. It was only a matter of time before others jumped on the proverbial bandwagon. Recently, Meta launched Reels on Facebook in 150 countries — the company’s attempt to remain competitive in the short-form video space. TikTok has long been the go-to destination for short-form video, but companies like YouTube and Facebook can benefit from being fast followers rather than first movers. The ability to imitate the innovation of competitors and improve functionality only increases attractiveness for general users, content creators and advertisers alike.
Facebook Reels will have enhanced functionality to encourage engagement and usage of the new platform that includes the ability to post videos up to 60 seconds in length and enhanced posting ability through the Reels drafts interface. This new feature acts as a clipping option to test different video formats for users who tend to publish longer-form and live videos on the platform. This further cements Facebook Reels as a significant complementary channel, which could pose risks for TikTok’s sole product offering of short-form videos.
It’s no secret that a change of this nature can force businesses to adopt new social media advertising strategies. Monetizing short-form video on TikTok has come with significant challenges, as advertisers are unable to implement pre- or mid-roll ads on content. Now that Meta can leverage high-earning, long-form content along with the advent of its Reels platform, the network is set up to attract more creators and advertisers than ever before.
Currently, the company is expanding its tests of unique ad placements that function as sticker overlays in addition to the semi-transparent banner ads that can be placed at the bottom of Facebook Reels. This is where product differentiation comes into play as these non-interruptive ads will enable creators to earn a portion of ad revenue, while advertisers can execute strategic placements that will not be skipped over by users.
Given that TikTok is already a supplementary channel for large creators and social advertisers, Meta is strengthening its possibility of becoming the go-to platform when it comes to broader monetization. This expansion could be a turning point for the company as Facebook’s usage is slowing, while videos on social media are attributing to the largest percentage of time spent on the platforms. In the end, this race will be decided by the platform that effectively blends both long and short-form content in a manner that is attractive to both creators and advertisers. As we look to the future, keep an eye on trends and partnerships as the creator population’s loyalty may shift.
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