The social media giant has been facing consistent pressure from short video app TikTok and is adjusting its ads business in response to privacy controls introduced by Apple last year. Meta is reportedly building a new team to develop “possible paid features” across its platforms. The move by Meta comes following the first-ever drop in revenue reported by the company in July, along with a gloomy forecast for its third quarter. “We’re opening up the Reels Play Bonus program to more creators on Facebook soon and letting creators cross-post their Instagram Reels to Facebook and monetize them there too,” Mr Zuckerberg said. Are the social media tech companies advertising revenues shrinking very fast ?

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