July 27 (Reuters) - Reels, Meta Platforms' (META.O) answer to viral short-form video app TikTok, elicited eyerolls when it launched in 2020 and was regarded as yet another example of Meta copying a popular rival.
The number of Reels video plays on Facebook and Instagram now top 200 billion per day, up from 140 billion last fall.
One reason for Reels' growth is that Meta's ad platform makes it seamless for advertisers to place their promotions on the feature, said Debra Aho Williamson, a principal analyst at Insider Intelligence.
More than three-quarters of Meta's advertisers are placing ads on Reels, said Susan Li, Meta's chief financial officer.
TikTok and its famous content recommendation algorithm remains the leader when it comes to time spent on social media apps.
Persons:
Meta, Justin Osofsky, Instagram, TikTok, Osofsky, Mark Zuckerberg, Debra Aho Williamson, Susan Li, Zuckerberg, Meta's, Li, Sheila Dang, Katie Paul, Peter Henderson, Jamie Freed
Organizations:
Facebook, Meta, Intelligence, Insider Intelligence, Thomson
Locations:
Austin, New York