instagram

• Meta survey: 58% of consumers purchased a product in the past six months because of a creator’s recommendation
• The FTC says social media is rife with crypto scams—and victims are losing hundreds of millions of dollars

  In 2021, people lost more than $1 billion to cryptocurrency scams. That’s more than 60 times what they reported losing in 2018.

  
• Meta hopes “platform agnostic” creators will flock to its events at VidCon

  Meta will increase its presence at VidCon and will use the convention to sell creators on Instagram Reels and Facebook's VR efforts.

  
• TikTok’s Cannes Film Festival partnership has hit some major speed bumps

  Rithy Panh has resigned as the jury president of the TikTok Short Film Festival at Cannes. Meanwhile, Meta is on the red carpet.

  
• Instagram thinks the future of memes has “infinite possibilities.” That’s why it’s holding an official MemeCon.
• Meta says it’s messing with Reels payouts, introduces new Facebook plug for creators to earn up to $4,000
• Instagram users now spend 20% of their time on the app watching Reels
• Instagram is testing the ability to make Reels from preexisting templates
• Instagram updates its algorithm to promote more original content
• U.S. Instagram users can now tag specific products in their posts
• Reels creators say their monthly payouts have been cut by as much as 70%
• Instagram drops new educational portal “by creators, for creators”