Facebook launched Instagram Reels,a short video creator platform in Brazil,France, Germany and India. Reels was launched in India after TikTok was banned in India. Facebook now plans extend the service in many regions in August
According to a report by the Wall Street Journal, Facebook is trying to lure famous TikTok creators through well paid contracts. Facebook has offered many TikTok creators to work with Instagram Reels. The amount of the contract is worth of Thousands of dollars.
As per report, a popular TikToker which is followed by millions said that ” he will join Instagram Reels after company discussed the offer with him.” He refused to disclose the details of the contract and his discussions with the company.
Instagram Reels,A short video creating platform where users can create 15-sec short videos. Users can edit created videos by using effects and audio on background.Users can watch Reels on their feed or in explore Tab.
Facebook knows the value of influencers and also knows the number of influencers using apps can attract new users towards it. TikTok has a large number of creators. Still TikTok does not monetize influencers for their work. After the offers given by Facebook, TikTok is releasing funds for their creators to convince them to stay on the platform. But this will not work if TikTok itself gets banned so TikTok has to gain trust in users to avoid the loss of both influencers and viewers