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NetworkNewsBreaks – Instagram Unveils New TikTok Rival: Instagram Reels

Company: Facebook Inc. (FB)
Category: Analyst Alerts

Facebook Inc. (NASDAQ: FB) owned Instagram recently unveiled its latest offering, Instagram Reels, as a direct competitor to TikTok. The report, written by LikeFolio Founder Andy Swan, reads, “Although only 9% of U.S. internet users have used TikTok, President Trump’s executive order banning the app brought panic to TikTok’s loyal fanbase. Insert: Instagram. The FB-owned app launched its own version of TikTok called Instagram Reels in early August. With similar features and user experiences, Instagram Reels stepped into the market right after Facebook announced +11% YoY earnings. With huge inborn parent traffic and perfect timing for product launch, investors wondered, can Facebook pull this off? According to LikeFolio data, Instagram Reels is barely a blip on the radar. In fact, generic mentions of Instagram reels were too low in comparison to TikTok to place on the same chart…for now. Under the pressure of a ticking executive order ban, the TikTok bidding war is heating up. This week, Walmart and Microsoft teamed up to bid for the social network. If TikTok can stick around, Instagram Reels has a large hill to climb.”

About Instagram Reels

Instagram Reels: a new way to create and discover short, entertaining videos on Instagram. Reels invites users to create fun videos to share with friends or anyone on Instagram. Record and edit 15-second multi-clip videos with audio, effects, and new creative tools. Users can share reels with their followers on Feed, and, if they have a public account, make them available to the wider Instagram community through a new space in Explore. Reels in Explore offers anyone the chance to become a creator on Instagram and reach new audiences on a global stage. For more information, visit https://about.instagram.com/about-us

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