Facebook Live Shopping events have come to an end as Meta slowly shifts towards short-form video content. The announcement was made by Facebook that live shopping events will end on the 1st of October, with businesses looking at other ways to create revenue.
Not many people knew about the feature, and therefore it wouldn’t make much of a difference to the app. It actually gives Meta a chance to look into expanding different opportunities for businesses including the popular form of content at the moment – short-form videos.
Short-form video content has become the norm on social media with Facebook reaching $1 billion of annual revenue in the 2nd quarter of this 2022 through Reels and Reel ads. Instagram has also increased its use of Reels, adapting and emphasising the feature. Although, there was backlash on this as users of Instagram complained that Instagram was becoming more and more like TikTok. We had written an article on this just before the outburst over social media that even got the Kardashians talking about it on their stories.
CEO Mark Zuckerberg made a point of putting Reels at the forefront of Facebook and Instagram’s business plan. Instagram users are now drawn to watching Reels with 20% of their usage on binge-watching short-form videos.
Meta is pushing for creators and influencers to develop new and exciting content and with it shutting down its streaming feature, they can do just that. The live shopping feature did give creators another revenue stream and a way for them to showcase their products from their own store or through affiliate marketing.
What do you think of Facebook Live Shopping events being shut down? Should Facebook keep it or should it follow the wave of short-form video content? Let us know by tweeting us @itpliveme.
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