- Meta Platforms, Inc META disclosed expanding the integration of augmented reality into Reels Ads and Facebook Stories, enabling brands like Sephora and Tiffany & Co to tap the Gen Z audience at a recent event.
- Meta rival TikTok owes its success to this target audience group.
- Meta also intensified its rivalry with Snap Inc SNAP through the move that had successfully integrated the capabilities.
- Meta also added features to make Reels Ads more interactive, including a more prominent button with additional advertiser information on Facebook and Instagram Reels ads, TechCrunch reports.
- Meta will now allow Facebook users to pause a video ad and preview the link, driving higher click-through rates for Reels Ads.
- Reels proposes new multi-destination product ads helping users swipe through multiple product images without leaving the Reel they were watching.
- Meta also shared leveraging AI technology to improve ads ranking.
- Nicola Mendelsohn, Meta's head of Global Business Group, said that Meta's investments were "already paying off, especially with Meta Advantage.
- Mendelsohn promised more product updates and AI announcements in the coming weeks.
- Meta discussed how AI was improving its Reels monetization efficiency.
- CEO Mark Zuckerberg also shared that Meta's plans for AI included chat experiences in WhatsApp and Messenger, visual creation tools for posts on Facebook and Instagram and ads, and video and multi-modal experiences over time.
- Price Action: META shares traded higher by 0.06% at $233.67 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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