Creators on Facebook and Instagram will soon have more ways to generate revenue from their content.
On Tuesday, Meta CEO Mark Zuckerberg shared via a Facebook post (and in a series of comments on that post), a few updates on monetization for creators on Facebook and Instagram. These updates included expansions to existing monetization options, as well as a few new ways to make money.
The expanded monetization programs include Facebook Stars and the Reels Play bonus program. Facebook Stars lets creators generate revenue from their audio and video content by letting viewers of that content purchase Stars to be sent to that content’s creator. Facebook will then pay creators $0.01 per Star received.
Zuckerberg said the Stars program would be opened up to “all eligible creators so more people can start earning from their Reels, live, or VOD videos.” And in an emailed statement, Meta provided further details and described eligible creators as those “who have at least 1,000 followers over the last 60 days (who are in markets where Stars are available and also meet our Partner Monetization Policies and Content Monetization Policies )…”
Essentially, the Reels Play bonus program is a way for creators on Instagram to monetize their Reels by earning money based on how many times your Reels get played. So, more plays on Reels means more money for the creators who made them. According to Zuckerberg’s announcement, this program is being expanded to “more creators on Facebook soon and letting creators cross-post their Instagram Reels to Facebook and monetize them there too.”
This expansion is expected to start next week for creators in the U.S. Creators are eligible for the new Facebook Reels Play bonus program if they meet the following requirements: They have over five reels made and attained at least 100,000 views within the last 30 days.
Zuckerberg also announced new monetization options for creators: Interoperable Subscriptions and Creator Marketplace. Interoperable Subscriptions will involve allowing creators to offer their paid subscribers (of other platforms) access to exclusive Facebook Groups for their subscribers. Creator Marketplace is expected to be a specific place within Instagram in which creators “can get discovered and paid,” and where brands can contact creators with partnership gigs. A “partnerships messaging folder” is also expected to be featured in Instagram’s Direct Messaging as part of Creator Marketplace.
The Meta CEO also offered up a few more updates on revenue sharing and his company’s endeavor to incorporate NFTs into its platforms. Zuckerberg said that in an effort to drive more money to creators, it would “hold off on any revenue sharing on Facebook and Instagram until 2024. That includes paid online events, Subscriptions, Badges, and Bulletin.”
As for NFTs, which Meta refers to as “Digital Collectibles,” Zuckerberg said that the previously announced test would be expanded “so more creators around the world can display their NFTs on Instagram.” The ability to display NFTs is also expected to extend to Facebook as well (as part of an initial test with a few U.S. creators). Testing for NFTs with Spark AR in Instagram Stories was also announced to begin soon.
Meta’s push for original content and now this increased support for creators should come as no surprise. A recently leaked internal memo pretty much indicated that ensuring Reels’ success was a priority for Meta and that supporting creators on its own platforms was part of that.