It’s a one-year extension of the company’s previous promise
Creators on Facebook and Instagram won’t have to share a cut of their revenue with the platforms until 2024. Meta previously said it would hold off on revenue sharing until 2023.
In a post today, Meta CEO Mark Zuckerberg announced a slew of monetization updates for Facebook and Instagram, including the news of the revenue-sharing extension. Creators make money on the platforms through fan subscriptions, paid events, badges, and other methods, and the companies are adding more and more ways for creators to make money in an attempt to lure them away from platforms like TikTok. With one new feature, creators on Facebook with subscribers on other platforms will be able to give those fans access to subscriber-only groups, according to the post.
Zuckerberg also announced more creators would be eligible for monetization programs like cash bonuses for making popular Reels, the company’s short-form TikTok copy. The Reels bonus program will soon be open to more people on Facebook, and creators will be able to monetize Instagram videos cross-posted to Facebook. Zuckerberg says Stars, a tipping method on Facebook, will also be available to all eligible creators. (Facebook does impose a tax when fans purchase Stars: creators get a penny for each Star they receive, but fans typically purchase them for more.)
The post also outlines other features that are being tested or expanded. Zuckerberg says Instagram is testing a creator marketplace where content creators and brands looking for partnerships can find each other. (TikTok has something similar.) The platform’s NFT rollout is also being expanded beyond the US, and the feature will come to Facebook “soon” — starting with a select group of US users.