Meta Won’t Take a Commission From Creators’ Earnings on FB and IG
Before 2024, Facebook and Instagram will not require creators to give them a portion of their earnings. In the past, Meta promised to delay revenue sharing until 2023.
Last month, Mark Zuckerberg, the CEO of Meta, disclosed a number of modifications to Facebook’s and Instagram’s monetization strategies, including the extension of revenue-sharing. In an effort to entice creators away from platforms like TikTok, the firms are continually providing new opportunities for creators to generate money on the platforms through fan subscriptions, paid events, badges, and other means. The article mentions a new tool that will allow Facebook creators with subscribers on other platforms to grant their fans access to subscriber-only groups.
The company’s TikTok equivalent, Reels, and other revenue schemes would be open to more producers, according to Zuckerberg. Soon, more Facebook users will have access to the Reels bonus program, and creators will be able to monetise Instagram videos that are cross-posted to Facebook. According to Zuckerberg, all qualified creators would also have access to Stars, a Facebook tipping system.
Other features that are being tested or developed are also described in the post. According to Zuckerberg, Instagram is piloting a creator marketplace where marketers searching for collaborations with content creators can connect. The NFT platform is also being rolled out outside of the US, and Facebook will get the capability “soon” – starting with a restricted number of US users.