For those who have been living under a digital rock, Reels is a short-form video feature on Instagram and Facebook (that may look a little familiar to TikTok users). When it was created and launched on Instagram in 2020, the feature allowed users to record, edit, and share videos of up to 15 seconds on the Instagram app. These videos could be backed by audio and millions of licensed songs. It was only a matter of time till Facebook Reels came along.
In August 2021, Facebook brought Reels over from Instagram to its main app. When the feature began showing up for some users in the Facebook News Feeds, marketers instantly knew to keep an eye on how things developed.
In Facebooks own words:
“Facebook Reels are a new way to create short, entertaining videos, get discovered by new audiences and be part of cultural moments on Facebook. Effects and music can be added to your reel or use your own original audio, allowing you to bring your ideas to life and share them with your audience. Reels you create will appear in places like Facebook Feed, the Reels section on Facebook, or your Reels profile.”
With the popularity of this short form video content increasing on a daily basis, it was a matter of time before Facebook would launch their Reels functionality to the majority of users on the platform. Yesterday they did just that.
In an announcement from Meta yesterday (22nd February 2022), Facebook Reels was introduced to users across 150 countries on both IOS and Android devices, along with the company touching on plans to allow more creators to monetise their content within the format in the near future:
“Today, we’re expanding the availability of Facebook Reels for iOS and Android to more than 150 countries across the globe. We’re also introducing better ways to help creators to earn money, new creation tools and more places to watch and create Facebook Reels.”
Facebook also highlighted the importance of video content on the platform, stating:
“Watching video is half of time spent on Facebook and Instagram, and Reels is our fastest growing content format by far.”
This is a huge heads up for marketers on the platform, as historically the company has given advantage to creators who make use of new features, with a boost in engagement for content created with the newly introduced tools.
Monetisation for Creators.
In July 2021, Facebook announced that it would be investing over $1 Billion in programmes that allow creators on Facebook and Instagram to make money on the platforms by the end of 2022.
As part of their commitment, a new bonus program was launched to help invited creators earn money when people view their reels. The Reels Play bonus pays eligible creators based on the performance of their reels, and is available on both Facebook and Instagram.
Facebook have stated that they are “focused on developing a suite of creator monetisation options and will explore additional opportunities for them to earn money for their Reels. On Facebook, they will test sticker ads and banner ads in Reels.”
In the new announcement, Facebook have said that creators on their Reels Play bonus program can earn up up to $35,000 a month from qualifying Reels.
You can read the full announcement here to gain more insight into the different features Facebook is bringing to their Reels format.
Although Facebook has a reputation for taking inspiration from other platforms, like their launch of the Stories feature in 2016, which was heavily criticised for being a near-perfect copy of Snapchat stories, It’s clear the platform is well aware of the social landscape at the moment in terms of what audiences are looking for. Even though Reels may not be the newest innovation in the social media space, it’s well worth jumping on as it’s a developing format on the platform that may just accelerate success for your business or brands you work with.
We say it to our clients every day, video content on social media is more important now than it ever has been. If you need a hand developing a strategy that accelerates your brands growth, drop us an email: email@example.com and we’ll get you on the right track.