Reels is Instagram/Facebook’s answer to TikTok. It’s launching very soon and has the two companies acting like divorced parents trying to bribe the kids to pick a favorite.
Posted on Forbes yesterday:
TikTok has launched a more than $2 billion fund to distribute money to creators globally over the next three years in an apparent response to reports that Facebook has been making lucrative offers to TikTok influencers to lure them over to Instagram’s short-term video functionality Reels in advance of its early August launch.
Facebook has reportedly asked TikTok creators to post exclusively on Reels or to post their content on Reels first, offering to pay for video production with the caveat that that creators sign nondisclosure agreements to keep details of the deal on the down-low.
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