Instagram, Facebook to Delay Taking Commission From Creators to 2024: Mark Zuckerberg
Meta CEO Mark Zuckerberg has announced that the company will "hold off on any revenue sharing on Facebook and Instagram until 2024," a year later than originally planned.
The social media company is also introducing new ways for creators to be monetised on its platforms.
According to Zuckerberg, creators will be able to make subscriber-only Facebook groups where users will have to pay a subscription amount to access the group chat.
Facebook Stars will be opened up for all the eligible creators “so more people can start earning from their Reels, live, or VOD videos,” Zuckerberg noted.
The Reels Play bonus program is also being opened up to more Facebook creators. Starting next week, creators in the U.S. who have created five or more Reels and totaled at least 100,000 views in the past 30 days can apply, provided they meet Meta’s partner monetization policies and content monetization policies.
The program had been invite-only, and Meta said creators can earn money from overlay ads and the Facebook Reels Play bonus program when they cross-post Reels from Instagram to Facebook.
The company CEO also said that more content creators would be eligible for monetisation programmes on Reels, the Facebook clone of TikTok. This development comes days after Meta asked its employees to change the platform's algorithms to make it more like its Chinese competitor TikTok that is gaining immense popularity among teenagers.
The other directive to employees is that years after Messenger and Facebook split up as separate apps, the two will be brought back together, mimicking TikTok's messaging functionality, said a report.
The company realises that its short-form video platform Reels is not enough to threaten TikTok.