Facebook launches Reels globally, betting on 'fastest growing' format

FILE PHOTO: Meta and Facebook logos are seen in this illustration taken February 15, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) - Facebook is launching its short video feature Reels to more than 150 countries, its owner Meta Platforms said on Tuesday, in a move to expand its fastest growing content format.

The social media giant, which recently lost a third of its market value after a dismal earnings report, has highlighted Reels as a key priority.