In a seven-part threaded post yesterday, Facebook founders Mark Zuckerberg outlined Near-future plans aim to increase opportunities for influencers and digital creators to earn money by posting on both Facebook and its meta-owned sister platform Instagram. The announcement includes opening up the Facebook Stars token tipping system to all eligible creators, expanding the Reels Play bonus program to more creators, and launching the Instagram Creator Marketplace to help connect sponsors with publishers for brand partnerships.
“We are moving towards a future where more and more people can do creative work, and I want platforms like ours to play a role in making that happen,” Zuckerberg wrote.
Here’s what creators are looking for on Facebook and Instagram:
Free access to monetization tools until 2024: Instead of charging creators for using Facebook’s paid online events, subscriptions, badges and bulletin products, Zuckerberg says these tools will be free to use until 2024, so creators will continue to earn all the revenue they earn.
Interoperable Subscriptions: Facebook groups will open up, allowing creators access to subscriber-only groups for their paying fans and subscribers on other platforms—an interesting maneuver to attract younger users back to Facebook from the creator economy fanbase that began over the years. Has to slant towards an older demographic.
Facebook Stars: token tipping system, which allows viewers to buy virtual stars and send them to their favorite creators, will open to “all eligible creators,” Zuckerberg says. It gives publishers a platform-spatial revenue source to help monetize them from reels, live streams or video-on-demand.
Reels Play Bonus Program: The Reels Play bonus will open up incentives for a large pool of meta creators who will be eligible for Earn up to $35,000 Each month 150 reel creators are nominated for inclusion based on their performance.
Producer Market: As the creator economy expands and grows, so does the interstitial economy—it’s no longer necessary to pay high agency fees or negotiate with managers to secure an impressive endorsement. Zuckerberg announced that Instagram will be testing a creator marketplace where brands and creators can connect directly for partnership and sponsorship opportunities.
NFT: Long rumored to be on the horizon, it looks like NFTs are coming to both Instagram and Facebook. Zuckerberg says that starting with a small group of creators in the United States, the meta-owned platform will begin allowing account holders and creators to display and cross-post NFTs in Feed and Instagram Stories.