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Meta’s CEO Mark Zuckerberg announced they’re launching new tools for creators to make money. He announced that in a Facebook thread. He also highlighted that they will introduce a revenue share which will be less than the 30% Apple and the others take.
Throwing shade much?
Zuckerberg mentioned six new updates:
More money for creators
Interoperable Subscriptions
Facebook Stars
Monetizing Reels
Creator Marketplace
Digital Collectibles
Let’s have a look at what each update means.
Screenshot was taken on June 22, 2022
More Money For Creators
There will be no revenue sharing on events, subscriptions, badges, or bulletins until 2024. It was originally planned to do that until 2023, but Zuck has now announced that it will continue to do so for an extra year.
Interoperable Subscriptions
This allows creators to give their paying subscribers access to subscriber-only Facebook Groups. The big deal here is that people don’t have to be subscribed to the creator on Facebook- they can be subscribers on any other platform.
Facebook Stars
Facebook Stars is a virtual good that lets fans show their favourite creators some love and vice versa. These will now be available to all eligible creators. That should help them earn more money from Reels, Lives, and VOD videos.
Monetizing Reels
Facebook will open up the Reels Play Bonus Program to more creators on Facebook. They will be able to cross-post their Instagram Reels o Facebook and money from them there as well.
Creator Marketplace
This is still in the testing phase. Basically, it will be a place on Instagram where creators can get discovered and get paid, while brands will be able to share their new partnership opportunities. I thought of this as a job ad site for influencers?
Digital Collectibles
We heard this term before. Adam Mosseri announced Digital Collectibles last month that Instagram will start testing NFTs with select creators in the States. Yesterday, Zuckerberg announced that the test will be expanded, which means more creators can display their NFTs on Insta. The plan is to bring this possibility to Facebook too and enable cross-posting for this feature.
Facebook doesn’t really know when it will launch these new tools and features, but it’s important to know what’s in the making, especially if you’re a creator. Gotta know your options! Also, take a look at what people have to say about this.
We’re offering creators new ways to make money on Facebook and Instagram, and some updates to help creators as we build for the metaverse. Mark Zuckerberg just shared details: https://t.co/ISy6bvXCMa pic.twitter.com/F1x72BCJPh — Meta Newsroom (@MetaNewsroom) June 21, 2022
