Instagram is looking to monetise Reels, just after a month of launching the feature in August 2020. The company announced that it’ll start testing shopping within Reels later in 2020.
Another way it plans to monetise the feature is to also start making shoppable IGTV videos global. The IGTV videos will be available through Instagram Shop, a dedicated page for shopping within the Instagram app.
This will allow viewers to just tap through an IGTV video and buy whatever items they want through Instagram checkout or the seller’s website.
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Its parent company, Facebook has prioritised commerce and recent years has seen it make moves towards online transactions. The company is, however, holding off from taking a cut from the purchases on its platforms at least through the end of 2020. This is probably a strategy to help it become accepted.
Facebook CEO Mark Zuckerberg had said in 2019 that he expected commerce and payments to be the future of the company. The company’s recent quick rollout of back-to-back shopping updates seems like it is fully pursuing that vision.
Instagram is also testing commercials on IGTV and has said it will share ad revenue with users. Instagram will hope that the changes to Reels and IGTV help it appeal to brands and influencers who want more ways to monetise their presence on the app.
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