Meta Platforms Inc.
Chief Executive Mark Zuckerberg is betting the social-media giant’s near-term future on Instagram Reels, the short-video feature he is touting as the company’s answer to TikTok. The company’s internal research shows that Meta has a lot of catching up to do.
Instagram users cumulatively are spending 17.6 million hours a day watching Reels, less than one-tenth of the 197.8 million hours TikTok users spend each day on that platform, according to a document reviewed by The Wall Street Journal that summarizes internal Meta research. The document, titled “Creators x Reels State of the Union 2022,” was published internally in August. It said that Reels engagement had been falling—down 13.6% over the previous four weeks—and that “most Reels users have no engagement whatsoever.” One reason is that Instagram has struggled to recruit people to make content. Roughly 11 million creators are on the platform in the U.S., but only about 2.3 million of them, or 20.7%, post on that platform each month, the document said. An expanded version of this story appears on WSJ.com. Popular stories from WSJ.com: