Meta Platforms introduces new video ad formats

Meta Platforms announced a series of new ads formats on Tuesday Oct 4, aimed at creating new revenue streams for the short video and business messaging products that it has identified as key to growth this year.

In a blog post, the parent company of Facebook and Instagram said it was beginning testing for a new skippable video ad format that it is promoting, after its TikTok-like short video product Reels.

The post said that the new Reels format has horizontally scrollable carousel ads that can display between two and 10 images at the bottom of a Reel.

Meta executives said the new formats could lure Reels creators with ads placements next to their videos, which was part of the company's business strategy at a press event.

As you are growing your creator following across our platforms, the goal is to be able to provide the tools and the monetisation opportunities, said Nada Stirratt, vice president of Meta's global business group for the Americas.

The ads that open direct chats between businesses and prospective customers said that Meta can now use artificial intelligence to optimize whether ads are targeted for new customers or those most likely to make a purchase.

The company said that artificial intelligence would be used to power the selection of ads shown in users' Instagram feeds, as well as internal research involving 400,000 advertisers that showed the approach produced more user purchases than other feed ads.

The blog post said that meta is opening up new spaces for advertising on Instagram, including the Explore tab that users can see when they run a search in the app.