CLAIM #41784 · Meta Platforms Inc. (META) · 2024Q2 earnings call · Jul 31, 2024 · due Dec 31, 2025
“We expect to expand these new systems to support more services beyond Facebook video over the course of this year and next year.”
Susan Li · CFO
In context
“rs. Now, more than half of recommendations in the US come from original posts. On Facebook, we're seeing encouraging early results from the global rollout of our unified video player and ranking systems in June. This initiative allows us to bring all video types on Facebook into one viewing experience, which we expect will unlock additional growth opportunities for short-form video, as we increasingly mix shorter videos into the overall base of Facebook video engagement. We expect the relevance of video recommendations will continue to increase as we benefit from unifying video ranking across Facebook and integrating our next-generation recommendation systems. These have already shown promising gains since we began using the new systems to support Facebook Reels recommendations last year. We expect to expand these new systems to support more services beyond Facebook video over the course of this year and next year. We are also seeing good momentum with our longer-term engagement priorities, including Generative AI and Threads. People have used Meta AI for billions of queries since we first introduced it. We're seeing particularly promising signs on WhatsApp in terms of retention and engagement, which has coincided with India becoming our largest market for Meta AI usage. You can now use Meta AI in over 20 countries and eight languages, and in the US we are rolling out new features like Imagine Edit, which allows people to edit images they generate with Meta AI. Beyond Generative AI, the Threads community also continues to grow and deepen their engagement, as we ship new features and enhance our content recommendation systems. Now to the second driver of our revenue performance, increasing monetizati”
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SEC filings for META ↗ · Claim quote is verbatim from the 2024Q2 earnings call.