Surveillance: ECB, Fed Raise Rates
Bloomberg Surveillance
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How Reels Is Consolidating Market Share for the Ad Business
Reels is now a $10 billion run rate business versus $3 billion last fall. The only negative I could find is the ad pricing went down 16%. We saw that from Snap. It was down 12% and we thought it's a social media problem. In this case, they're actually cannibalizing their own ad inventory because Reels doesn't monetize as well as their other formats.
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