Photo Credit: Brett Jordan
Meta is rolling out more monetization tools to help creators on Facebook and Instagram, including a creator marketplace.
Meta CEO Mark Zuckerberg announced that the company is unveiling more ways for creators to make money on Facebook and Instagram. The company is also expanding some of its existing monetization tools to more creators. To put more money into the hands of creators, Zuckerberg says Meta will keep paid online events, fan subscriptions, badges, and upcoming independent news products free for creators until 2024. Previously, the company intended to do so until 2023.
Meta is testing a creator marketplace on Instagram, Zuckerberg says, where brands can share new partnership opportunities with creators. When a brand finds a creator they want to partner with, they can send a project with details attached directly to them. According to Meta, there will be a partnership messaging folder within Instagram DMs so creators and brands alike can filter through projects and offers.
It seems evident that Meta’s iteration of a creator marketplace takes inspiration from TikTok’s version. TikTok’s Creator Marketplace allows brands to find TikTok personalities for marketing campaigns, which Meta aims to do with their take as the company furthers efforts to entice creators to its platform.
Additionally, Meta is launching interoperable subscriptions enabling creators to give their subscribers on other platforms access to subscriber-only Facebook Groups. These exclusive groups are Meta’s first foray into interoperable monetization tools for creators. As an example of another platform currently utilizing interoperability, a creator might have a Discord server set up that one must first subscribe to their Twitch to join.
Zuckerberg says that Meta is extending the Facebook Reels Play Bonus program to more creators. Creators can cross-post their Instagram Reels to Facebook to monetize them in both locations. US-based creators will be eligible to apply for the Facebook Reels Play Bonus program if they have more than five Reels with a total of at least 100,000 views in the last 30 days. Creators must also meet Meta’s Partner Monetization Policies and Content Monetization Policies to be eligible for the program, which was previously invite-only.
Meta is also opening up Facebook Stars to all eligible creators. Facebook Stars are virtual items allowing fans to express support for their favorite creators. Beginning this week, creators with at least 1,000 followers in the last 60 days will be eligible for onboarding. Meta is also bringing back Stars Fest, a month-long celebration recognizing Stars creators from June 15 to July 15.
“We’re heading toward 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,” Zuckerberg says.
Lastly, Zuckerberg says Meta is expanding its NFT test on Instagram to more creators. Supported blockchains for NFTs on Instagram include Ethereum and Polygon, with Flow and Solana support on the way. Meta will also expand the test to Facebook soon, beginning with a small group of US-based creators, enabling cross-posting on Instagram and Facebook. NFT support is coming to Instagram Stories with SparkAR, with testing on the way.