Meta is now making Facebook and Instagram content monetization better than ever
If you've been thinking about making content on Facebook and Instagram and trying to monetize it, now is as best a time to do just that as ever. Mark Zuckerberg has just announced in a Facebook post about some improvements for creators on Facebook and Instagram coming pretty soon. Let's see what does will be.
The best thing that Zuck announced is probably the fact that Meta will not be taking a cut of creators' revenue until 2024. Previously, the end of that period was set for 2023, after which Meta was expected to share a cut of content creators' revenue, but it seems this period is now (luckily for creators) getting extended by one more year.
Zuckerberg also announced other monetization updates coming to the two social media platforms. You can make money on these platforms by fan subscription, paid events, badges, and other methods, but now you will also be able to create paid Facebook Groups for your most dedicated followers.
On top of that, Meta will be expanding its bonuses for making popular Reels (short videos on Instagram), and you could also post the Reels on Facebook and monetize them there too.
But that's not all. Zuckerberg mentions the company is now working on a Creator Marketplace. This will be a set place on Instagram where creators can get discovered and paid and advertisers and brands can provide partnership opportunities.
And last but not least, Zuck talks about digital collectibles. Basically, Meta is running a test right now that allows creators to display their NFTs on Instagram (basically, NFTs are digital assets representing real-life things, such as digital art, GIFs, videos, that you can buy with bitcoin, pretty much), and this test will now expand to more creators. NFTs will also be tested with a small group of US creators on Facebook, and they would be able to be cross-posted on Insta and Facebook, as Zuck puts it, "soon".
Facebook and Instagram won't get a cut of creators' revenue until 2024, among other changes
The best thing that Zuck announced is probably the fact that Meta will not be taking a cut of creators' revenue until 2024. Previously, the end of that period was set for 2023, after which Meta was expected to share a cut of content creators' revenue, but it seems this period is now (luckily for creators) getting extended by one more year.
Facebook Stars, a method to tip people on Facebook, will also be expanding to more eligible creators (here, you have a fee that Facebook takes, mind you).
But that's not all. Zuckerberg mentions the company is now working on a Creator Marketplace. This will be a set place on Instagram where creators can get discovered and paid and advertisers and brands can provide partnership opportunities.
And last but not least, Zuck talks about digital collectibles. Basically, Meta is running a test right now that allows creators to display their NFTs on Instagram (basically, NFTs are digital assets representing real-life things, such as digital art, GIFs, videos, that you can buy with bitcoin, pretty much), and this test will now expand to more creators. NFTs will also be tested with a small group of US creators on Facebook, and they would be able to be cross-posted on Insta and Facebook, as Zuck puts it, "soon".
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