Meta is introducing even more ways for creators to earn money on Facebook and Instagram, Mark Zuckerberg, CEO of Facebook, announced in a recent post.
“We’re heading towards a future where more people can do creative work they enjoy, and I want platforms like ours to play a role in making that happen,” Zuckerberg said.
One of the biggest announcements was that Meta is going to keep directing money towards creators and will hold off on any revenue sharing until 2024. The news is in reference to paid online events, Subscriptions, Badges and Bulletin.
Previously, Meta said they wouldn’t take a cut from creators on Instagram and Facebook until 2023. When Zuckerberg provided that update back then, he provided a comparison to Apple, stating Meta wouldn’t be taking 30% like it does.
Zuckerberg also shared that Meta would be launching other monetization tools, such as:
- Interoperable Subscriptions: Creators can now give paying subscribers on other platforms access to subscriber-only Facebook Groups.
- Facebook Stars: Facebook Stars are now eligible for all creators. Previously, only members of Level Up and managed partners could access the feature. For each star, a viewer sends while watching your Reel, live or VOD videos, Meta pays $0.01 in U.S. dollars.
- Monetizing Reels: Meta will shortly be opening about their Reels Play Bonus program to more creators on Facebook. Creators will be able to cross-post their Instagram Reels to Facebook to earn more money.
- Creator Marketplace: Instagram is developing a destination where creators can be discovered, earn money and connect with brands interested in partnership opportunities.
- Digital Collectables: Instagram is looking to allow more creators worldwide to show their NFTs on the platform. Meta plans to expand this to a small group of U.S. creators on Facebook soon after.