Facebook's Instagram Reels Incorporates Ads Globally: Report

• Facebook Inc (NASDAQ: FB) launched ads globally on its TikTok clone, Instagram Reels, Reuters reported.

• The ads will be full screen and vertical and appear in between individual posts, CNBC reports. They will extend up to 30 seconds and will run on a loop.

• Facebook aims to monetize its short-form video feature. It started trialing Instagram Reels ads in India, Brazil, Germany, and Australia in April. The tests ran with brands like Bayerische Motoren Werke AG (OTC: BMWYY), Louis Vuitton, Netflix Inc (NASDAQ: NFLX), and Uber Technologies Inc (NYSE: UBER).

• An eMarketer report estimated that adult users of TikTok to spend more time on TikTok than Facebook in 2021. It also expected TikTok to have more Gen Z users than Instagram in 2021.

• However, eMarketer estimated Facebook to command nearly 25% of global digital ad spend in 2021.

• Price action: FB shares traded higher by 1.91% at $337.39 on the last check Thursday.

• Image Courtesy: Wikimedia

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