Instagram is working on a TikTok competitor in the form of Reels. The app has launched in several markets and is expected to find its way stateside next month. However, will it manage to be as popular as TikTok? While it’s hard to say if it will, it seems that Instagram is doing everything they can to make that happen.
According to a report from The Wall Street Journal, it seems that Instagram is basically throwing money at TikTok creators to try and lure them onto their platform. The company is said to have set aside hundreds of thousands of dollars to pay to creators, where more money will be given to creators who are willing to create content exclusive to Reels.
For those who are unwilling to make the exclusive switch, Instagram is said to be asking these creators to create content posted onto Reels first before it goes onto other platforms. While competing services aren’t new, this is actually a pretty good time for Instagram to try and get Reels off the ground.
This is because it was previously reported that the US government was considering banning TikTok due to tensions between China (TikTok’s parent company is from China). Assuming that happens, it will leave a massive hole in the market that we’re sure Instagram is all too willing to fill.