While the newly renamed Meta (formerly Facebook) focuses on creating video content on Facebook and Instagram to drive user engagement and ad revenue, the company has set up a production studio in its new Gurugram office.
The studio, open to content creators and small business owners already on its platforms to click photos, shoot videos and film Instagram and Facebook lives, is part of its skill cluster called “Center for Powering the New Economy from India”.
âNot only are videos a growing area for us overall, but we also continue to improve in their monetization. Over 60% of video revenue now comes from mobile video i.e. videos shot vertically or that are less than 15 seconds long. Over 2 billion people per month now watch videos eligible for In-Stream ads, that is, ads that appear before, during or after videos. And we’re expanding access to Reels Ads on Instagram to more advertisers with automatic placement. and new creative formats, âsaid Meta Inc. COO Sheryl Sandberg on the tech giant’s third quarter earnings conference call in October 2021.
In India, in particular, the company reported a 41% increase in its annual gross advertising revenue to Rs 9,326 crore in March 2021, according to its file with the companies registrar. The company earns money by displaying advertisements on its platforms (Facebook, Instagram and Messenger) targeting its users based on their history on its platforms.
As the company focuses more on India, its largest market with more than 500 million users of its family of apps, it is reportedly expanding its offices in Mumbai as well. It has a total of five offices (Gurugram, Mumbai, Bengaluru, Hyderabad and Kolkata) in India.
Meta’s new office in Gurugram, an extension of the one-story office it previously had in another location in the same city, is the largest in India at 1.3 lakh square feet. It can accommodate around 800 employees from WhatsApp, Instagram and Facebook, although most of them continue to work from home with the option to come whenever they want. This reporter, who was able to walk around the polygonal, glass-fronted and open-plan office, found it brimming with the cool and relaxed vibe expected of a new age business. It’s packed with a game room, nursing center, colorful artwork, and conference rooms with quirky names like Chai & Kaapi.
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