Why Instagram Pulled Back on Reels and How They Make $50 Billion Per Year
Calvyn Lee Blog
NOVEMBER 30, 2023
According to CEO Mark Zuckerberg, promoting Reels was costing Meta around $500 million per financial quarter, totalling nearly $2 billion per year. Instagram’s Massive Revenue Despite Reels Losses In 2023 alone, Instagram is projected to generate over $50 billion in total revenue.
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