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Facebook Launches 3 New Monetization Options For Video Content Facebook Expands Eligibility For Ad Revenue and Digital Currency From Viewers

author image Written by: Nicole McCormick           Categories - In The News, Uncategorized

Good news for content creators and viral marketing strategists – Facebook is rolling out even more ways for users to make money off of video content published to the platform.

The three latest changes to Facebook’s video monetization options include:

  • Earning revenue from short-form video content

  • Expanding the monetization eligibility requirements to more content creators

  • Making it easier for creators to earn revenue based on contributions from viewers

New Eligibility Requirements

Prior to the recent update, only certain Facebook pages were able to earn revenue from videos published on the platform. But now, with the new eligibility requirements, more pages will be able to monetize their videos using advertising.

For instance, pages can now earn money from videos that are as short as one minute.  Such videos will have the option to run a 30-second ad at the beginning that Facebook has deemed “minimally interruptive.”

Before these changes were announced, only videos that were three minutes in length or longer could be monetized with ads.

Mid-roll ads can also now be shown 45 seconds into a video that’s three minutes or longer. Previously, ads could only be shown one minute into a video.

Each type of video ad will also now have its own set of requirements. This includes In-stream, Live, and Gaming.

Earning Money From Videos

Another big change is that more pages are eligible to earn revenue from viewers.

Essentially, any page that’s eligible to run ads on its livestream videos will be able to earn money through “Stars.”

Stars are a digital currency that Facebook users can purchase and send to creators during livestreams. Creators will earn a share of the revenue from all the Stars they receive.

Currently, Stars are only available with livestreams, however, Facebook is looking into the possibility of allowing creators to earn Stars from non-live videos. 

Pages can apply for all of these new monetization options in Facebook Creator Studio.

Nicole McCormick

Nicole is a wordsmith wizard, passionate about the written word and an avid storyteller who uses creatively crafted prose to help bring your brand’s story to the next level. A former journalist with writing credits in both local and national news publications and a few newspaper awards under her belt, Nicole now enjoys telling your stories and finding new and creative ways to create valuable content that resonates with audiences in the digital landscape.

Facebook Removes Support For Podcasts

05/03/2022

Facebook is ditching podcasts and plans to stop offering them from June 3.

The social-media giant will no longer allow users to add podcasts to the service as of this week but plans to remove them altogether starting June. Both its short-form audio product Soundbites and the central audio hub will be discontinued, Bloomberg reports.

These options were first introduced last April, as part of Facebook’s broader effort to promote social audio. That’s when Meta presented a range of upcoming podcast options: on-page display tools and direct connection options. Both were supposed to let Facebook users listen to podcasts from within the app without leaving it. In June, Meta launched its podcast support tools, with several launch partners.

Now, not even a year later, Facebook is shifting its focus to other initiatives.

We’re constantly evaluating the features we offer so we can focus on the most meaningful experiences – a Meta spokesperson said in an email sent to Bloomberg. The person allegedly added that they don’t have a specific date on when Soundbites and the audio hub would shut down but it will be in the “coming weeks.”

Facebook will also cut the site’s Soundbites and Audio hubs and integrate its Live Audio Rooms feature into its broader Facebook Live suite. They also said they will not warn users of this, but will rather let creators break the news how they see fit.

Why the change? Probably because they need to save some money:

After the start of COVID, the acceleration of e-commerce led to outsized revenue growth, but we’re now seeing that trend back off. However, based on the strong revenue growth we saw in 2021, we kicked off several 2 multi-year projects to accelerate some of our longer-term investments, especially in our AI infrastructure, business platform, and Reality Labs. These investments are going to be important for our success and growth over time so I continue to believe we should see them through. But with our current business growth levels, we’re now planning to slow the pace of some of our investments.

This might not be a big deal and some significant news for everyone, but as Andrew Hutchinson from Social Media Today noticed, it shows how Facebook’s focus can easily shift and ‘betray’ the creators that use the platform. What does that mean for future Meta visitors and builders?

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Facebook Launches New Novi Pilot

12/14/2021

Earlier this week, Meta launched a new trial version of the Novi digital wallet – this time, for use via the Whatsapp mobile app. Users in USA and Guatemala can now send and receive money right in their WhatsApp mobile app.

You might be wondering what the Novi app even is. Well, remember when Facebook announced the rebranding, the Metaverse, and how it will touch every product they build? It turns out this could be a part of it all.

Novi is a digital wallet that should enable people to send and receive money internationally without leaving their homes. There are no fees, and the process doesn’t last long. It uses blockchain technology and a digital currency called USDP – a cryptocurrency of Paxos – a coin that uses the Etherium blockchain technology and is attached to the U.S. dollar. So, 1 USDP = 1 USD.

According to Facebook, or Meta, if you will, Novi has been developed to enable fee-free, cross-country money transfers. If you decide to sign up, you will need a valid government ID and a video selfie. Then, you can add money to the account using your debit card and your contact list.

Things you should know

Novi is officially a regulated financial company from Facebook, but also has built-in protection against fraud and constant monitoring for suspicious activity. Yet, some regulators are hesitant to give Facebook more power and influence, especially considering the amount of user data they have access to.

For them, it seems that adding payment options is a step too far. That’s why Novi acts independently from Meta and wants to distance itself as much as possible, to maximize acceptance. Using Novi on Whatsapp won’t change Whatsapp’s privacy settings and should be completely safe, according to Facebook.

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