Investors are also bracing for flat user growth and a third consecutive quarter of profit declines at the Facebook parent.
may lie in the metaverse, but when the company reports results on Wednesday, investors will be focused on two more immediate bets: pumping up short-video offering Reels to compete with TikTok and rebuilding its ads system after Apple throttled access to user data.
The social media giant this year has unveiled sweeping redesigns of Facebook and Instagram, imitating rival TikTok’s look and algorithmically driven recommendations of viral short videos. “I think realistically we’re looking at a year and a half, maybe even longer, before we’ll really have a line of sight to having a strong leadership position,” he said. The timeline for rebuilding the ads system was similar, he said. He repeatedly urged staff to increase their “intensity” to get through the period.
The changes have created some backlash, though. Instagram, which has been testing TikTok-like features, last week postponed plans to replace the app’s scrolling feed with a more immersive “panavision”-style layout that fills the entire screen, from October to early next year.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Facebook introduces music revenue sharingMeta is introducing music revenue sharing on Facebook to help creators make money from videos that use licensed music, in an effort to better compete with rival TikTok.
Read more »
Stormers face new French and English challengesTeam heads to France in December for first game in Champions Cup against Clermont
Read more »
UK Prime Minister: Contenders clash over tax, China and characterUK Prime Minister: Contenders clash over tax, China and character In their first head-to-head TV debate, UK's two prime ministerial contenders; Liz Truss and Rishi Sunk, clashed over China, tax and character
Read more »
Unilever sales jump on higher prices, but profit slipsBritish consumer goods group Unilever said that first-half revenues jumped on higher prices, but net profit fell on rising costs and taxation.
Read more »
England star joins ‘new team’ in AfricaOne of the most influential and dynamic England players in the English Premiership has headed south to pursue alternative opportunities.
Read more »
Saudi prince to sign deal for 'cheaper energy' in GreecePrince Mohammed landed in Greece on Tuesday on his first Europe trip since the killing of Saudi journalist Jamal Khashoggi, and is set to head to France later in the week.
Read more »