Meta says users are spending over 24% more time on Instagram because of its TikTok-clone, Reels.
on Wednesday, Meta CEO Mark Zuckerberg and Meta CFO Susan Li shared that time users spent on Instagram had increased more than 24% since the company launched its short-form video product Reels.
“Reels also continue to become more social with people resharing Reels more than two billion times every day, doubling over the last six months,” Zuckerberg says on a transcript of the earnings call. In fact, Li admits that Reels are destroying some of the revenue that Instagram would traditionally make from photos and Stories as short-form videos now account for some of the time users would have usually spent engaging with that content previously.
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