In a bid to attract younger users, Facebook has announced a series of updates aimed at enhancing the platform's appeal, particularly among Nigerian content creators. Tom Alison, president of Facebook at Meta, highlighted that research indicates young millennials spend approximately 60% of their time watching videos on Facebook. To capitalize on this trend, Meta is launching a revamped video page that will feature longer, live, and short-form videos, catering to the preferences of a younger audience. Additionally, Facebook is introducing Local and Explore tabs to improve user engagement and discovery of content.
The competitive landscape is intensifying, especially with TikTok boasting 150 million American users, which poses a significant challenge to Facebook's user base. In response, Facebook is not only focusing on content but also on monetization opportunities for creators. As of June 27, 2024, Nigeria will become eligible for Facebook monetization, allowing local creators to earn ad revenue directly from their content. This is a significant shift, as previously, Nigerian creators were required to manage their pages from an eligible country to access monetization features. This change is expected to empower local creators and enhance the overall content ecosystem on the platform, making it more attractive for young adults in Nigeria. [973524cf]