Facebook Is Going After TikTok's Top Creative Talent
Facebook (NASDAQ: FB) is about to launch its TikTok clone Instagram Reels in 50 countries after successful tests in Brazil, India, Germany, and France. As it prepares Reels for wider launch, Facebook is courting some of TikTok's top creators with financial incentives, according to a report from The Wall Street Journal.
The strategy here appears to be twofold. First, Instagram needs to seed Reels with interesting content in order to attract an audience to the feature. Second, some of Instagram's offers are for exclusive rights or first looks at content, which could cause TikTok's existing user base to follow their favorite creators to Instagram.
The move echoes some failed attempts to win audiences in the past: one by Facebook itself, with its Live and Watch products, and the other by Microsoft (NASDAQ: MSFT), when it paid top e-sports talent to switch from Amazon's (NASDAQ: AMZN) Twitch to its now-shuttered Mixer platform.
Source Fool.com
