Connecting the app to Instagram has helped it rapidly build a use base, in addition to providing data-sharing opportunities for brands.
The government’s $11.4 million in spending, as well as ads for Videotron, Freedom Mobile and TVA, are off of Facebook and Instagram.
Google and Meta are still prepared to block news, while publishers celebrated a “positive first step” amid lingering concerns.
A small percentage of Facebook and Instagram users will not be able to share content and the company trials its response to the Online News Act.
The company began testing its latest addition to the app’s ad load in March.
The company has also debuted a suite of new features for its Advantage portfolio of optimization tools.
Company executives spent their time in front of a government committee debating the bill’s language about platforms sharing news links, rather than their larger ad business.
The company says the technology is one of its big ad revenue opportunities, both in terms of performance and creative.
Shops will be able to find content creators based on advanced filters, or post open projects for creators to apply for.
New filters offer advertisers greater control over the kind of content their ads appear next to on Facebook and Instagram.
But the focus on short-form video comes with the sun-setting of a premium in-stream feature.
CEO Mark Zuckerberg announced the cuts alongside an update on the company’s “year of efficiency.”
The company has decided to follow through on the possibility of restricting content on Facebook and Instagram.
Nicola Mendelsohn and Justin Osofsky take on expanded roles as Marne Levine prepares to exit.
In addition to cost reductions, the company is planning to implement more AI to improve ad monetization on its platforms.