New Video App Riff Launched By Facebook Inc (FB)
Facebook Inc (NASDAQ:FB) is reiterating that video filling is the next big thing on its platform, as the social giant moves to compete against Vine and Snapchat on video offerings. Riff is the latest video app that the social giant plans to use to position itself as a video platform, in order to compete with rival YouTube on social videos.
Riff For Telling Stories
Riff is the answer to Vine and Snapchat that should allow users to make videos that are 20 seconds or shorter and post them on their Newsfeed with hashtags. Facebook Inc (NASDAQ:FB) hopes the app will encourage people to join the fan and attach their videos to tell long stories. On posting a video, all contributors to a video will be tagged; the person from whom the video originated will have an option to delete clips along the thread.
Riff is part of Facebook Inc (NASDAQ:FB)’s larger plan to oust YouTube as the destination to be for social videos. Google has reaped big from the video sharing platform in terms of advertising revenue, waiting to see if Facebook will make it count with Riff.
Videos For Advertising
Facebook has seen video views on its platform grow exponentially since introducing the auto-play feature in 2013 that allows clips to start playing automatically once one scrolls past them. It has not been the smoothest of runs for Facebook Inc (NASDAQ:FB) on this front, having received criticism for driving up data usage on mobile devices because of the auto playing feature.
Video currently accounts for 30% of content shown on Facebook Inc (NASDAQ:FB), a threshold that the company would like to improve on as the race for more ads revenue heats up. Video uploads over the past year have increased as the company affirms that users are seeing nearly four times more videos in their news feeds than in the past.
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