Meta crosses $1 billion annual revenue run rate for Reels ads: Zuckerberg

Meta has crossed a $1 billion annual revenue run rate for ads on its TikTok rival short-video making platform Reels, and Reels now has a higher revenue run rate than Facebook/Instagram Stories at identical times post-launch, its Founder and CEO Mark Zuckerberg has revealed.

Zuckerberg said that in the April-June period (Q2), “we saw a more than 30 per cent increase in the time that people spent engaging with Reels across Facebook and Instagram”.

Meta had announced during its Q1 earnings call that Reels made up more than 20 per cent of the time on its platform.