https://techcrunch.com/2022/04/27/meta-says-reels-now-makes-up-over-20-of-the-time-users-spend-on-instagram/

Meta announced during its Q1 2022 earnings call that Reels, its short-form video feature and TikTok rival, now makes up more than 20% of the time that people spend on Instagram. The company also noted that video, overall, makes up 50% of the time that users spend on Facebook. Although Meta didn’t specify how much of that time is made up by Reels, it noted that Reels are performing well on Facebook as well.

Meta CEO Mark Zuckerberg said during the call that although its short-form video product doesn’t monetize as well as Stories currently do, the company is optimistic about improving this in the future. Zuckerberg pointed toward the company’s experience with Stories, which at first wasn’t monetizing as well as the main Instagram feed but had improved over time. Meta expects to see a similar experience with monetizing Reels over time, but notes that it’s going to be a multiyear journey and that the company is still in the early days of ads in Reels.