[Redacted]: "In Q4 we launched LTV-based ad load which reduced ad load for teens to maximize long-term revenue growth."

"In 2024, the organic IG Reels watch time budget will increase from -6.4% to -7.8% to account for the impact of Reels ad load increases on Reels consumption. The impact of Reels ads on engagement is typically immediate on Reels organic watch time, but takes time to materialize into Sessions and DAPDAPDaily Active PeopleCore Meta engagement metric counting the distinct people active on a platform in a day, reported per app and across the family. The source document lists it among the four teen metrics a "Youth Defense Task Force" was formalised to protect - "teen MAP, DAP, TS and PS" - from "experiments and rollouts across Facebook that negatively affect teen metrics".Full entry ↗, which is why the Reels organic watch time was flat in Q4, while the impact on Sessions and DAP continued to grow. In 2024, we will increase the IG Reels organic watch time budget to 7.8% to account for the planned investments in Reels ad load scaling. The corresponding session impact is estimated at -0.08% to -0.22% incremental IG session loss in 2024 after factoring long-term impact, which will still be within the 2.54% upper bound forecast for Instagram sessions. Note: Reels ads drives higher Session and DAP loss on Instagram than on Facebook, and the team's hypothesis is that this is because Reels represent a larger portion of the app's engagement: as of the end of Q4'23, Reels represented 48% of Instagram's time spent, and 20% of Facebook's time spent." "The 2024 Reels ad load scaling strategy continues to focus on ensuring long-term efficiency, with an engagement impact framework efficiency of 92% EIF (significantly higher than the 85% EIF efficiency bar), which will allow us to generate +12% Reels revenue/+0.3% iRev while keeping a high bar on engagement. In Q4 we launched LTV-based ad load which reduced ad load for teens to maximize long-term revenue growth. In 2024 we will continue this focus on thoughtfully increasing ad load to maximize long-term revenue growth. We expect to beat original LRP Reels revenue forecasts even though we expect a lower RME goal (26% vs. prior 31% goal) due to the continuation of the non-regrettable items we've seen in H2'23. The Q1 ad load increase will be focused on non-teens which will go from 15.4% ad load at the end of Q4'23, to 15.8% ad load in Q1'24, and 18% by the end of 2024, while teens will remain constant around 9% ad load."