The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The social media company announced on Thursday that creators can now earn money from videos as short as one minute, including marginal interruptions from ads running at 30 seconds. Facebook intends to explore the in-stream ad formats to increase engagement “through rewards or product interaction.”
The success of rival social media platform TikTok has demonstrated the increasing importance of short-form video, and Facebook debuted its own TikTok-like product, Reels, last August. This latest announcement shows a continued escalation of the rivalry between the two. With the introduction of in-stream ads on Instagram in April 2016, the format has now expanded to include “pre, mid, post-roll and image ads” and livestream specific formats.
Facebook will also begin testing the ability for content creators to monetise Facebook Story features with ads in the coming weeks. These features will include stickers and creators will receive a portion of revenue. As a result, eligibility criteria will be updated so to qualify for this monetisation a user must have 600,000 total minutes viewed and a minimum of five active video uploads.
The algorithms TikTok relies on for its operations are deemed core to ByteDance overall operations, which would make a sale of the app with algorithms highly unlikely.
The app, owned by TikTok parent company ByteDance, has been promising to help emerging US labels get started selling in China at the same time that TikTok stares down a ban by the US for its ties to China.
Zero10 offers digital solutions through AR mirrors, leveraged in-store and in window displays, to brands like Tommy Hilfiger and Coach. Co-founder and CEO George Yashin discusses the latest advancements in AR and how fashion companies can leverage the technology to boost consumer experiences via retail touchpoints and brand experiences.
Four years ago, when the Trump administration threatened to ban TikTok in the US, its Chinese parent company ByteDance Ltd. worked out a preliminary deal to sell the short video app’s business. Not this time.