Facebook has announced a $1 billion investment in new programs that will provide opportunities to creators to earn on Facebook and Instagram. By the end of 2022, the invested amount will be spent to reward creators on both platforms via new bonus programs. Currently, creators on Facebook and Instagram do not earn money from the companies but earn by sponsorships, and other contracts based on their followers-base on the apps.
TikTok has gained unprecedented popularity in a very competitive social media industry. Its video sharing features and earning opportunities have compelled other platforms to adopt similar features to stay relevant. Instagram announced Reels and Snapchat announced Spotlight inspired by TikTok.
Recently, Instagram’s Head Adam Mosseri shared that the app will go through a major revamp for creators and video recording. He added that the redesign is the need of the hour to compete with rival social media platforms like TikTok, and YouTube. Earlier this week, TikTok hit the 3 billion downloads milestone, making it the first non-facebook app and the fifth non-game app to achieve the mark since 2014. Thus, the new bonus programs might attract TikTok and YouTube creators on Facebook’s platforms.
Facebook’s new Bonus programs will distribute $1 billion amongst creators by 2022
As explained by the company, the $1 billion investment will be used in the new bonus programs that will give rewards to eligible creators for achieving certain milestones. “The ‘Bonus’ programs will be seasonal, evolving, and expanding over time”. New dedicated places for bonuses with Instagram will launch this summer and in the Facebook app, it will launch in Fall. This way creators can monitor available bonuses and learn which content type is performing best.
The eligibility criteria for bonus programs are as follows:
- Authentic: Designed to reward creators who are creating original and high-quality content that people enjoy.
- Attainable: Developed to support creators of all sizes across a wide range of verticals, with earning opportunities for a variety of content on our apps.
- Simple and Actionable: Easy-to-understand requirements that creators can take action on to help them grow their businesses.
Currently, bonuses on Facebook and Instagram are available by invitation only.
- In-Stream bonus and Stars bonus on Facebook
- IGTV ads bonus, badges in Live bonus, and Reels Summer bonus on Instagram.
Social media influencers have gained great authority over the decade, with millions of followers, so are given celebrity status by being invited to award shows, fashion weeks, hired by brands, and more. On one hand, where creators grow their following on social media apps by uploading their content for free, the platforms earn a huge revenue because of that engagement created by that content. Now, Facebook wants to give back to the creator as TikTok does.
“This investment will include new bonus programs that pay eligible creators for hitting certain milestones when they use our creative and monetization tools. We’ll also provide seed funding for creators to produce their content. Our goal is to help as many creators as possible find sustainable, long-term success on our apps. Especially those who are just starting out, for creating content their communities love.”
To learn more about new bonus programs click here.