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Meta Launches Reels to Improve Earnings of Creators

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Facebook Accelerator Programme - Investors King

The owner and parent company of Facebook, Meta, in a move to expand its fastest-growing content format, has disclosed the launching of Reels, a short video feature targeted at improving content creators’ earnings, Mark Zuckerberg stated via his official Facebook page.

Reels will be made available on iOS and Android in more than 150 countries in the coming month.

The social media giant prioritized Reels after realizing it has lost a third of its market value through a dismal earnings report. It also sees it as a means of creating competition with the explosively popular short-video app TikTok, owned by Chinese tech giant ByteDance.

The new update is expected to include; reels in stories, reels in a watch, top of the feed, and suggestion reels in feed, in order to make it easier for creators to share crosspost – sharing reel to their Facebook and Instagram audience, and it is also part of the variety of opportunities it is creating for creators to earn up to $35,000 a month – based on the views of their qualifying reels.

According to the tech giant, the company is known for building on its experience in helping creators earn meaningful income from their monetization products like in-stream ads and Stars. It is also building direct monetization options for Facebook Reels through ad revenue share and fan support, while it expands the bonus program to more countries so that more creators can get rewarded for creating reels that their communities love.

The tech giant claimed to be starting with two formats which are banner ads that will appear as a semi-transparent overlay at the bottom of a Facebook Reel and sticker ads, a static image ad that can be placed by creators anywhere within their reels. The creators are expected to earn a portion of the ad revenue through non-interruptive ads.

However, the company which has been testing full-screen and immersive ads in between Facebook Reels since October of last year will be rolling out to more places around the world over the coming months while it looks for a way to include other development such as new tools that would make creators earn more with ads and Stars before it is made available in mid-March.

It is noted that Reels has been in existence on Facebook in India, Mexico, Canada, the U.S, and is now available across sub-Saharan Africa in Zimbabwe, Zambia, Uganda, Tanzania, Swaziland, South Africa, Seychelles, Senegal, Rwanda, Nigeria, Namibia, Mali, Malawi, Lesotho, Kenya, Guinea, Ghana, Cape Verde, Cameroon, Burkina Faso sequel to this launch.

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Tesla CEO Elon Musk Given 22 Days Ultimatum by A U.S Court to Acquire Twitter

Following Elon Musk’s decision to opt-out of the $44 billion Twitter acquisition deal, a Delaware Court of Chancery in the United States has ordered the Tesla CEO to acquire the micro-blogging platform within 22 days.

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Following Elon Musk’s decision to opt-out of the $44 billion Twitter acquisition deal, a Delaware Court of Chancery in the United States has ordered the Tesla CEO to acquire the micro-blogging platform within 22 days.

The judge presiding over the case made the order following Musk’s decision to proceed with the acquisition of the social networking company 12 days before the court trial on the lawsuit Twitter filed against him. 

Musk had earlier opted out of the Twitter deal where he accused the platform of thwarting his information rights by not providing enough data on fake accounts on the platform.

Musk claimed in a tweet that Twitter is “20% fake/spam accounts” and suggested Twitter’s filings with the Securities and Exchange Commission were misleading.  The company had earlier disclosed that only less than 5% of its daily active users are spam accounts.

However, the Tesla CEO wasn’t convinced by the number of bots accounts twitter claimed were on the platform. He, therefore, insisted that his acquisition of the social media company cannot move forward until he sees more information about the prevalence of spam accounts.

It should be recalled that on May 27, 2022 Investors King reported that

Twitter also displeased by Musk’s action filed a lawsuit in the Delaware Court of Chancery, urging him to complete his $44 billion takeover of the social media company where it accused him of “outlandish” and “bad faith” actions that have caused the platform irreparable harm and “wreaked havoc” on its stock price.

Recently, during a court hearing after the judge at the Delaware court had given Musk a 22 days ultimatum, he asked that Twitter drop the initial lawsuit scheduled for October 17, but the social media company insisted that it would keep the litigation alive until the deal was concluded.

Musk had made the request stating that the lawsuit should be stepped down to enable him to raise the needed capital for the acquisition ahead of the October 28 deadline.

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World Richest Man, Elon Musk Offers $44 Billion to Close Twitter Deal

Tesla CEO and the world’s richest man, Elon Musk has offered to buy Twitter at the original price of $44 billion. 

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Elon Musk and Twitter

Tesla CEO and the world’s richest man, Elon Musk has offered to buy Twitter at the original price of $44 billion. 

Microblog platform Twitter has confirmed that Elon Musk has offered to close his $44 billion deal to buy Twitter Inc. on the terms he originally agreed to.

This is coming two months after the world’s richest man had initially pulled out of the deal. He alleged some inconsistency in the number presented to him.

He alleged that the company lied about the number of bots and spam accounts on its platform.

Investors King learnt that Elon Musk’s deal to buy Twitter Inc. has been on a wild ride during the past six months. 

On the 4th of April, Elon Musk disclosed a 9 percent stake in Twitter. Ten days after, he made a bid to buy Twitter at a share price of $54.20. He threaten to sell his stake in Twitter if the company rebuffed his offer. 

On the 21st of April, Elon Musk disclosed that he had lined up a $46.5 billion package to finance his bid for Twitter. 

In May, Musk tweeted that the deal was “temporarily on hold” because of concerns he had about fake accounts on the platform, prompting Twitter’s shares to fall 10 percent.

He further stated that he would not move on with the deal until Twitter was clearer about how many of its accounts were fake. 

On the 8th of July, he officially aim to terminate the deal, alleging that Twitter did not provide significant information about the fake accounts. 

In reaction to the termination, Twitter sued Elon Musk and tried to force him to honour the term of the agreement. 

However, his recent decision to go ahead with the deal will be a big win for the social media platform. 

Already Twitter’s share price has spiked by more than 20 percent after the news. A check by our correspondent shows that Twitter’s share price is trading above $50 as of the time of this report. 

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Nigerian Government Sue Facebook And Instagram; Seeks N30 Billion as Penalty

the Advertising Regulatory Council of Nigeria says it has lodged a suit against Meta. 

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An agency of the Nigerian government, the Advertising Regulatory Council of Nigeria says it has lodged a suit against Meta. 

Investors King learnt that the Advertising Regulatory Council of Nigeria (ARCON)  is seeking a penalty of N30 billion against Meta in a suit filed at the Federal High Court in Abuja. 

Meta is the parent company of Facebook, Instagram and WhatsApp. American billionaire Mark Zuckerberg has a majority stack in the company. 

ARCON claimed that both Facebook and Instagram displaced unapproved advertisements to Nigerian audiences. 

The advertisement regulatory agency further stated that the actions have caused a loss of revenue for the Nigerian Government. 

ARCON stated that “the continued publication and exposure of various advertisements directed at the Nigerian market through Facebook and Instagram platforms by Meta Platforms Incorporated without ensuring the same is vetted and approved before exposure is illegal, unlawful and a violation of the extant advertising Law in Nigeria”. 

It also stated that the council will not permit unethical and irresponsible advertising in Nigeria’s advertising space. 

Meta’s agent, AT3 Resources Limited was also joint in the suit. However, the court has not fit a date for the suit.

If the court rules in favour of ARCON, it will change the face of social media advertising in Nigeria. 

ACORN further clarified that the council is not regulating the online media space. Rather, its focus is on advertising and marketing communications on the online platforms in line with its establishment Act.

The Advertising Regulatory Council of Nigeria (ARCON) has the government mandate to oversee, approve or disapprove any advertisement in the Nigerian public space. It also has the statutory mandate to generate revenue for the government through public advertisements. 

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