Influencers and online creators have truly solidified themselves in the world of digital marketing as they pave the way for product & service showcasing. & Meta is now set to introduce additional ways of them earning money through its platforms, Facebook & Instagram.
In a recent post, the CEO of Facebook, Mark Zuckerberg announced “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”.
As part of the changes, Meta will continue to direct money toward its many creators & will pause sharing any revenue until 2024. This is said in reference to Subscriptions, Badges, paid online events & Bulletin.
This shift comes after it was previously announced that Meta wouldn’t be taking a cut from creators across the two channels until 2023. When this update was shared previously, Zuckerberg used Apple as a comparison to Meta, with them not taking 30% off creators, unlike the global tech giant.
Alongside the pushback of the date, it was also shared that other monetization tools would be launched. Including;
- Facebook Stars: Once only open to members of Level Up & Managed Partners, Facebook Stars are now available to all creators alike. In summary, for every star received whilst users watch your Reel, live or VOD videos, Meta will pay you £0.84 (or its equivalent in international currency).
- Interoperable Subscriptions: Online creators can now provide paying subscribers on other platforms access to subscriber-only Facebook groups.
- Creator Marketplace: A destination is being developed by Instagram where creators can be found, earn cash & connect with brands who may be interested in partnering with them.
- Monetizing Reels: Meta is set to share widen the number of creators able to access their Reels Play Bonus program. This will grant them the opportunity to cross-post their Instagram Reels through Facebook with the goal of earning more money.
- Digital Collectable: Instagram is predicted to be looking at more worldwide creators being able to share their NFTS through the platform. This will shortly after be opened to a small number of US creators.
In my thoughts…
I understand that this shift has come around due to the rising number of digital creators in the digital world and how they are transforming the way businesses market their products. Especially due to the significant impact that TikTok has had on the marketplace over recent years & will continue to have.
Thanks for reading,
Myk Baxter, eCommerce Consultant
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