‘With 2bn videos shared daily, Reels is the fastest-growing segment for Meta India’

“India is our largest user base across all three Meta platforms - Instagram, Facebook and WhatsApp. Reels has grown significantly since its launch three years ago and is now the fastest-growing segment for Meta India,” said Arun Srinivas, Director & Head, Ads Business, Meta India.

Facebook's user base in the country touched 440 million in FY22. Meta India clocked gross ad revenues of over Rs 16,000 crore in FY22, a 74% jump compared to the previous year, at a time when the company’s global growth engine had slowed down.

In a conversation with e4m, Srinivas credits this enormous growth to the consumers and businesses on the digital platform and the digital landscape in India that evolved quickly during the pandemic and redefined how businesses reach and engage consumers. He also shared that it was because of the opportunities available across large, medium, and small businesses.

“Digital tools like UPI, especially post-pandemic, have been a pivotal moment for many of us to realize that we can work from our homes uninterrupted.”

Sharing interesting numbers, Srinivas says, “Indians love videos (mostly comedy). Over two billion videos are shared on a daily basis in the country.”

As per the Global Consumer Short-Form Video Survey by Factworks, commissioned by Meta, over two-third of Indian users purchased a product or service after watching Reels.

To encash the popularity of Reels and influencer marketing, and maximize its ad revenue potential, Meta on Tuesday rolled out #MadeOnReels. The programme aims to connect leading brands with top influencers in the country. The timing is opportune as the ad market in India has bounced back after a prolonged spell of inflation and economic headwinds.

“Over 30 large brands across categories, including Maruti Suzuki, Meesho, Navi and Mondelez, have already partnered with Meta India for this initiative,” Srinivas said, adding that MadeOnReels’ success depends on how a company is able to get the business work alongside creators and tell their stories in a compelling manner.

SMBs can also be onboarded later but on a case-to-case basis due to the vast differences in their size and reach. It will depend on the business and influencer who can take that business forward, Srinivas explained.

According to Srinivas, “Meta’s role here is to get the handshake going between creators and brands. We want brands to understand the new form of storytelling, the engaging content that creators bring, and the authenticity and creative freedom of creators.”

Talking about the challenges and opportunities in the last eight months after taking over the role, Srinivas said: “We have seen a growing realization among businesses in India that digital platforms, especially after the pandemic, reach more consumers. The economy was shaken by events such as the war. Navigating a team in these times was the biggest challenge for me, and continuing to lead from the front and grow our platforms would be the biggest success.”