- Meta Platforms, Inc (NASDAQ:META) Meta is ending its Reels Play bonus program, which rewards content creators.
- Meta will not offer any new or renewed Reels Play bonus deals but will honor existing commitments over the next 30 days, the Verge reports.
- “We are evolving the test of our Reels Play bonus on Instagram and Facebook as we focus on investing in a suite of monetization solutions to help creators earn steady streams of income,” Paige Cohen, a Meta spokesperson, told The Verge. “We will look into ways to run the program in a more targeted form, for example in potential new markets.”
- Cohen noted that creators can still earn money through things like subscriptions and brand partnerships.
- Meta undertook restructuring to beat costs while it pursued its ambitious metaverse goals, and Facebook and Instagram strived to remain relevant versus TikTok.
- Recent reports suggest Meta plans to terminate thousands more employees based on financial targets. In November, Meta let go of 11,000 employees or 13% of its workforce.
- Concurrently, Meta is reportedly developing a new app focused on text-based content to support ActivityPub, a decentralized social networking protocol also serving Mastodon and other Twitter competitors.
- The app will enable users to share text-based updates, potentially posing direct competition to Elon Musk’s Twitter.
- Price Action: Meta shares were trading higher by 1.50% at $184.42 on the last check Friday.
UPDATE: Aflac Q2 Adj. EPS $1.46 Beats $1.28 Estimate, Sales $5.40B Beat $4.81B Estimate
Aflac (NYSE:AFL) reported quarterly earnings of $1.46 per share which beat the analyst consensus estimate of $1.28 by 14.06 percent. This is a 8.18 percent decrease over earnings of $1.59 per share from the same period
