On Wednesday, Mark Zuckerberg said that Facebook and Instagram will spend over $1 billion through the year 2022 to pay content creators who produce unique content for its Facebook and Instagram social networks.
“We want to build the best outlets for millions of creators to make a living, so we’re creating new proposals to invest over $1 billion to reward creators for the tremendous content they create on Facebook and Instagram through 2022.” “Investing in creators isn’t new for us, but I’m excited to expand this work overtime.” Zuckerberg wrote on Facebook.
Over the past few months, Facebook has been rolling out new initiatives to pay money to creators as a move to attract influential social media users onto its platform. As part of this initiative, the company is scheduled to roll out new bonus programs between now and the end of the year that will pay creators for hitting particular milestones.
Read more: Facebook rolls out ads globally for Instagram Reels
Some programs are already available to select creators by invitation but the platform will now initiate a dedicated place for bonuses within the Instagram app this summer and in the Facebook app this fall. Currently available invitation-only bonuses include;
♣ The in-Stream bonus: It pays an earnings bonus over the next four months to choose video creators using in-stream ads.
♣ Stars bonus: Stars Challenges will include gaming creators. Participating video and gaming creators will earn a monthly bonus for striking specific stars’ earnings milestones over the next three months.
♣ Instagram: The IGTV ads bonus, allows creators to reap a one-time bonus for signing up for IGTV ads, which facilitates them to earn a share of revenue when ads run against their videos.
♣ The badges in Live bonus: It rewards creators when they fulfill certain milestones with badges, such as going Live with another account.
♣ The Reels Summer bonus: This will launch in the coming weeks and pay U.S. users who create great Reels content for Instagram. Reels is a full-screen, short-length video feature that was launched by Instagram in 2020.
However, this is not the first time Facebook has bestowed money to creators in exchange for using its commodities. Previously, in June, the company announced that it would not take a cut of the revenue produced by creators for paid online events, fan subscriptions, badges, and Facebook’s upcoming independent news product until at least 2023. Later in April, the company announced various new programs for creators to earn money through Instagram.
Social media companies are recently focused on the influencers who help to bring millions of daily users. Facebook has announced an array of initiatives, including the means to ask for money from fans and tools to sell branded merchandise. But Facebook is just one runner in a jam-packed race. TikTok, Snap, Twitter, and YouTube are all at work on identical projects to furnish influencers with better routes toward making money.
