Mark Zuckerberg, CEO of Meta, has announced that the company is developing new forms of monetization for Facebook and Instagram content creators.
In a post published on Facebook on June 21, Mark Zuckerberg, CEO of Meta, explained that the company is working on a series of updates that will allow content creators to build in the metaverse and make money with it. He added that he intends that platforms like Facebook play a role in the growing creator economy.
In his article, Zuckerberg presented up to six updates that the company is currently working on. The first of them is the idea of Offer content creators new ways to increase their incomes, as social media platforms will not allow Facebook and Instagram revenue sharing until 2024. These new forms of monetization will include: “paid online events, subscriptions, badges and paid newsletters.”
In the past, the CEO of Meta already shared his commitment to giving more income to creators, although at that time his commitment ended in 2023. In the new article, the commitment extends until 2024 and adds that: “the company would take less than 30% that Apple and other companies take.”
Which creators will be able to participate?
One of these new features, called “interoperable subscriptions,” will allow content creators to register paying subscribers from other platforms in their exclusive Facebook groups.
Another section, “Facebook Stars” will be opened to all “creators who meet the requirements” (it is still unknown which ones they will be), which will allow more people to earn money with their Reels, live videos or VOD.
On the other hand, the Reels Play Bonus program will also be opened to more creators, so they will be able to publish their Instagram Reels on Facebook, to monetize on both platforms equally.
They are also testing an Instagram “Creators Marketplace” to allow creators to be discovered and get paid and contracts. Brands will also be able to share new partnership opportunities in this market, generating new workflows between creators and like-minded companies.
Finally, the company also will expand its digital collectibles, allowing more creators to display and use NFTs on Instagram. This feature will come also to Facebook, although before spreading to the entire world, it will be tested on a small group of content creators in the US. In this sense, creators must meet a series of specific requirements to be eligible, so this update will not be available to everyone.
Some of these features, such as the Creators Market, are designed to compete with other platforms, such as TikTok, where these types of features have been operating for some time.
New Facebook comment policy
On the other hand, the company is trying fight low quality content, spam and comment manipulation. To do this, it has launched a new “Comments Policy”, designed specifically for companies that use advertising on the platform.
“Businesses will need to comply with our Community Comment Policy,” which specifically prohibits comment manipulation, incentivization, irrelevance, graphic content, and spam.”
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