“However, we continue to expect time on Reels will monetize at a lower rate than Stories and Feed for the foreseeable future since people scroll more slowly through video content.”

In context

“onnect. And we've been pleased with the initial reception of our new standalone app Threads since its launch earlier this month. Our focus now is on further developing this into a product that will be valuable for a large set of people over-time. Moving to the other driver of revenue, improving monetization. Here, we're focused on improving monetization efficiency of products that monetize at lower rates today like Reels and our messaging services and more broadly, driving measurable performance and returns for our advertisers. On Reels, we are making good progress on monetization with more than three quarters of our advertisers now using Reels ads. We remain focused on further reducing the Reels revenue headwind and narrowing the monetization efficiency gap with our more mature surfaces. However, we continue to expect time on Reels will monetize at a lower rate than Stories and Feed for the foreseeable future since people scroll more slowly through video content. Within messaging, billions of people and millions of businesses use our messaging services every day to connect. We see a significant opportunity to build tools and functionality for businesses to help facilitate those interactions and are seeing early but promising progress with WhatsApp's paid messaging solution today. In terms of our work to drive measurable performance for advertisers, it's concentrated in two primary areas, AI and onsite conversions. We're leveraging AI to move our systems towards using fewer larger models that enable us to leverage learnings across product surfaces and deploy improvements more quickly, broadly and efficiently. We're also leveraging AI to power advanced ads products like Advantage+ shopping, which continues to gain adoption. We're seeing this work tr”