Using your social network accounts to make money is ultra fashionable at the moment. A trend that Meta intends to take advantage of in attracting new users to Instagram and Facebook. So how does it plan to do that? Mark Zuckerberg has announced a series of measures that could increase the revenue of its users. Here's the lowdown.
The CEO of Meta has more than one trick up his sleeve to prevent the brand's users from going to the competition. In a post on his Facebook account Mark Zuckerberg unveiled several announcements aimed at increasing monetization for content creators. While the social network has suffered from the astounding growth of TikTok, the firm intends to bounce back by luring creators with the promise of earning more money.
Mark Zuckerberg has said that, in the beginning, Meta will not take any commission on the revenues of content creators generated on Instagram and Facebook, until 2024. That means one more year free of commissions taken by Meta, which had previously announced 2023 as a deadline.
Content creators can generate revenue through subscriptions from their followers, paid events and tips, among other things.
Meta also wants to extend Facebook's "Stars" feature, which allows monetizing both streams and content like Reels, to more creators. Each time a user sends a star, the creator receives 1 cent. Note that this option is not available in Crimea, Cuba, Iran, North Korea, South Korea and Syria.
In addition to Stars, Meta will "soon" roll out its Reels Play bonus program to more creators on Facebook, and will allow creators to cross-post Reels on Facebook and Instagram to monetize them at the same time. Available only to business and creator accounts on Instagram, the bonus program allows users to earn money from the performance of their short videos.
Meta's not hiding the fact that it wants to prevent users from going to other social networks. And so it's taking action by facilitating exchanges, in order to promote engagement and therefore monetization. Facebook will now allow creators to give their paying subscribers on other platforms access to Facebook groups reserved for subscribers.
And Meta is not stopping there. The American giant is launching the Creators' Marketplace: a place to bring influencers and brands together and create business opportunities.
