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.
Supercharged chatbots, hyper-personalised marketing copy and new ways for shoppers to discover fashion online are just a few of the dream applications for ChatGPT and similar AI models.
The crypto market’s dramatic decline hasn’t totally curbed its wild spending, though it does look to be shifting its predilection for loud luxury toward a more discrete sense of style.
Games have become a cultural force in their own right and the preferred entertainment of Gen-Z, which accounts for a fast-growing share of fashion sales.
BoF Careers provides essential sector insights for fashion's technology and e-commerce professionals this month, to help you decode fashion’s commercial and creative landscape.