Content creators do not need to share their revenue with Facebook and Instagram, the parent company Meta previously said it would delay revenue sharing until 2023 but has now extended it to 2024.
Through his post as seen on Friday (6/24/2022), Meta CEO Mark Zuckerberg announced that he had made many updates regarding monetization for Facebook and Instagram, including a revenue-sharing scheme.
On Instagram and Facebook creators can make money through a variety of services such as fan subscription plans, paid events, badges and other methods.
Meta has also added even more ways for creators to make money. This is Meta's attempt to lure creators away from competing social media like TikTok.
Zuck also announced that more creators are eligible for monetization programs such as cash bonuses for creating video content on popular Reels.
This Reels bonus program will soon be opening up to more users on Facebook, and creators will be able to monetize cross-posted Instagram videos to Facebook. Zuckerberg said Stars, a method of tipping on Facebook, will also be available to all eligible creators.
This announcement also outlines other features that are being tested and will be expanded by Meta. Zuck said Instagram is testing a content creator marketplace where creators and brands looking for partnerships can find one another.
Then, the rollout of NFT will also expand beyond the US and this feature will soon be made available on Facebook starting with a select group of US users.