Content creators on popular social media platforms Facebook and Instagram will have more ways to monetize their content in the future. This was announced by Mark Zuckerberg, CEO of Facebook and Instagram’s parent company Meta.
One of the more interesting new ways creators will be able to make money is Creator Marketplace. According to Zuckerberg, this will be a “place on Instagram” that will give exposure to talent, help them get discovered, and offer an opportunity to set up partnerships with brands.
Also, more creators will now be able to monetize short videos called Reels through Reels Play Bonus. This will include the option of transferring Instagram Reels to Facebook and taking advantage of monetization opportunities there as well.
Other updates include Interoperable Subscriptions in the form of private Facebook groups for subscribers from other platforms, expansion of the Facebook Stars program, and the ability to display digital collectibles on Instagram and Facebook.
Finally, Zuckerberg revealed that planned revenue sharing on Facebook and Instagram will be held off until 2024 after previously being planned to roll out in 2023. This will apply to paid online events, Subscriptions, Badges, and Bulletin.
“We’re heading towards a future where more people can do creative work they enjoy, and I want platforms like ours to play a role in making that happen,” said Zuckerberg.
Meta’s new plans are probably aimed at competing with other platforms like TikTok and YouTube for top talent and keeping their best content creator in-house. Time will tell whether these changes will be enough to fulfill that goal.