- Instagram is allegedly luring away TikTok creators by giving them cash to its recently launched short video feature Reels where you can make 15-sec videos.
Instagram is allegedly luring away TikTok creators by giving them cash to its recently launched short video feature Reels where you can make 15-sec videos.
Reels will give higher compensation to developers who use the site exclusively, according to people familiar with the matter quoted by The Wall Street Journal.
The app resembles TikTok in that it allows users to record 15-second videos and incorporate music from their sound library.
Once a recording is made it can be shared on Instagram through posts or stories.
Earlier this month, Instagram revealed the launch of Reels in India-a country where TikTok is currently facing extreme legal restrictions due to privacy concerns.
The social media network will reimburse developers who do not apply to just launch their material first on Reels.
It seems the company happily will pay development costs for videos on Reels – a move that mirrors TikTok ‘s launch of a more than $200 million creator fund.
It seems that parent Facebook is speeding up efforts to bolster its rival goods as TikTok faces limitations not just in India but also in the US.
Instagram Reels is a short-form video feature expected to roll out in the US in August, and it looks like a direct rival to TikTok. It’s being tested in India, Brazil, France, and Germany. The feature will live inside Instagram’s existing Stories features.
One key difference is that Reels’ short videos are limited to 15 seconds, versus 60 seconds for TikTok.
With 2 billion global downloads in April, TikTok has raised a big challenge for Facebook, surpassing Instagram. The app makes a massive appeal to younger people, a Facebook community is keen to retain. However, the app is also under significant scrutiny in the U.S., due to questions regarding privacy and protection related to its ownership of China.
Last week, TikTok announced a $200 million fund to combat the drive of Instagram to support platform developers “make additional earnings that support reward the care and effort they put into creatively communicating with an audience motivated by their ideas.”
Following Reels ‘announcement earlier this month, news from creators’ financial incentives confirms that Instagram is preparing to compete directly with TikTok. YouTube announced a new service called “Shorts” in April which will also replicate the short video format to compete with TikTok.
Owned by the parent company ByteDance, TikTok has faced increasing global scrutiny over security and privacy issues linked to its Chinese origins in recent weeks.