The parent company of Instagram and Facebook is upping the ways that content creators can rake in cash on their platforms and the amount of people that can use them.
Their new model appears similar to their rival TikTok’s Creator Marketplace - which allows brands to find popular personalities on the app to use in their marketing campaigns - as a part of their effort to compete against them, which includes Instagram’s video sharing section, Reels.
Meta is also debuting interoperable subscriptions that will allow creators to create paid-for Facebook groups with exclusive content.
The company’s founder and CEO Mark Zuckerberg also announced that they will roll out their Facebook Reels Play bonus programme to more people and permit people to post their Instagram Reels to their Facebook pages, where they can also monetize their videos. This new initiative is a part of Meta’s wider $1 billion creator fund.
Applications for the Facebook Reels Play bonus programme will open next week. However, to qualify, people will have needed to uploaded five Reels with 100,000 views in total in the last 30 days as a bare minimum. In addition, they also meet Meta’s Partner Monetization Policies and Content Monetization Policies to get into the scheme. Currently, it is invite-only but since the spread of interest, they will be opening up to a wider audience.
The 38-year-old billionaire also announced an application process for Facebook Stars, which can be sent to fan’s favourite creators. To join, users must have 1000 followers in the last 60 days and live in an area where Stars are valid.
He also unveiled plans to increase users’ abilities to display their NFTs on their Instagram profiles and plan on doing the same for Facebook. It will be tested on Instagram Stories.
Mark said in an accompanying blog post about the plans: “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.”