Facebook users spend a lot of time watching videos, and Instagram video releases are also doing well. Facebook CEO Mark Zuckerberg recently sat down to report on their second quarter. He raised these issues there.
Zuckerberg said that now half of the total time spent on Facebook comes from videos. “The service is playing a big role in engagement growth,” Zuckerberg said of TikTok’s rival Reels.
According to a report by Engadget, the new head of Facebook’s detailed information indicates that Reels could be a new attraction for creators’ creativity.
Zuckerberg added that focusing on the organization’s creators and purchases will help them reach the long-term goal of becoming a Metaverse organization.
Facebook announced earlier this week that it was building a new team with Instagram executives to create Metaverse. In the context of Metaverse, Zuckerberg says, an embedded Internet where you don’t just look at the content, you’ll be inside. You can now do everything you can on the Internet, even things that don’t make sense on the Internet now, such as dancing.
Also Read: Facebook on the way to Virtual Reality
Facebook has recently announced some of its most robust growth. This time the company’s revenue has been more than two thousand nine hundred million dollars. As compared to last year, the income has increased by 56 percent. It was at such a time that Zuckerberg made his remarks. According to the organization, the number of monthly active people on Facebook is more than three and a half billion.
Even if this quarter is good, the rest of the time of 2021 will be spent. Differently, Facebook has warned. Dave Weiner, the company’s chief financial officer, said their idea was that revenue and growth would decline significantly in the second half of the year.
He added that Apple’s iOS 14.5 update would allow users to opt-out of ad tracking on the network, which would significantly impact the next quarter.