What you need to know
- Meta is bringing a series of changes that aim to improve the ability of creators to earn money.
- Along with improving cross-posting between Instagram and Facebook, there are also changes coming to Instagram Reels.
- Perhaps the most exciting change is that Meta is not participating in any revenue sharing until 2024.
If you’re a creator that relies on either Facebook, Instagram, or both as part of your revenue stream, you’re in luck. Earlier this week, Mark Zuckerberg announced a series of changes that will soon be implemented to help put more money in your pockets.
The first change directly affects your wallet, as Meta will “hold off any revenue sharing on Facebook and Instagram until 2024.” Zuckerberg explains that this includes the likes of subscriptions, paid online events, and others.
Going even further, those with subscriber-only Facebook Groups will now be able to provide unique content to their subscribers. It’s not all that different than what we have seen from Patreon and YouTube Memberships. But it’s nice to have another platform to provide some unique content for your members and viewers.
Keeping with the trend of content creation, Facebook is making it possible for “more people” to start earning from Reels, live, or VOD videos. Along with this is an expansion of the “Reels Play Bonus Program,” which could provide even more income. But it also allows creators to “cross-post their Instagram Reels to Facebook and monetize them there too.”
Part of the problem with getting a channel or brand off the ground is trying to get your product or content into the eyes of more viewers. By extension, this also makes it more difficult when it comes to partnering with larger brands, and Facebook is looking to help solve this problem. Creator Marketplace is a new option that will be available for Instagram creators where you can “get discovered and paid, and where brands can share new partnership opportunities.”
Last but certainly not least, Facebook is aiming to make the world of NFTs and “digital collectibles” more accessible for users. The company has already been testing an implementation of these collectibles with select creators. Now, Meta is “expanding” its test to more creators while simultaneously opening up testing on Facebook “starting with a small group of US creators.” And as you might expect, the company is also aiming to make it so you can cross-post between Instagram and Facebook.
While Facebook and Meta have been the subject of quite a bit of backlash over the past few years, this could be seen as a huge step forward for creators. All of these changes seem to be designed to make it easier to grow your community, become well-established, and work with new or different brands, all while putting more money in your pocket. There are no indications of when these changes will be implemented, but we expect creators won’t have to wait too long to begin taking advantage.
