You are here: Home » International » News » Companies
Business Standard

Meta rolls out monetisation tools for creators on Instagram, Facebook

Firm won't take commission from creators till 2024

Mark Zuckerberg | Instagram | Facebook


Mark Zuckerberg. Photo: Bloomberg
Zuckerberg announced that Meta is testing a designated place on Instagram where creators can get discovered and paid for content. Photo: Bloomberg.

Meta chief executive officer (CEO) announced today that the company is rolling out more ways for creators to make money on and Instagram, and is also expanding some of its current monetisation tools to more creators. Zuckerberg also said in order to get more money directly to creators, Meta is going going to keep paid online events, fan subscriptions, badges and its upcoming independent news products free for creators until 2024. The company had previously said it was going to do this until 2023.

Zuckerberg announced that Meta is testing a designated place on where creators can get discovered and paid for content. Meta notes that the creator marketplace allows brands to share new partnership opportunities.

Once a brand finds a creator that they want to partner with, they can send a project with the details to them, including information about deliverables and payment. Meta notes that there will be a partnership messaging folder within DMs where creators and brands will be able to filter through their offers and projects.

It’s worth noting that Meta’s take on its marketplace for creators seems to be similar to TikTok’s Creator Marketplace, which is the video app’s in-house influencer marketing platform.

TikTok’s Creator Marketplace allows brands to discover top TikTok personalities for their marketing campaigns, which is what Meta looks to be aiming to do with its own creator marketplace.

It’s clear that Meta’s Creator Marketplace will be part of its continued efforts to take on TikTok and woo more creators to its platform.

Meta is also launching interoperable subscriptions to let creators give their paying subscribers on other platforms access to subscriber-only Groups. The company notes that these exclusive groups are Meta’s first investment in interoperable monetization tools for creators, which lets creators receive payments from their fans on other platforms and offer access to exclusive features on .

What Zuckerberg plans to do

More money for creators

No revenue sharing on events, subscriptions, badges, and bulletins until 2024. In a previous Facebook thread, Zuckerberg said it would do this until 2023, but now that commitment has been extended. In the same thread, Zuckerberg said that the proposed 30% takewould be less than Apple and other platforms

Interoperable subscriptions

Lets creators give their paying subscribers on other platforms access to subscriber-only Facebook Groups

Facebook stars

Opening up to all eligible creators so more can start earning money from Reels, live, or VOD videos

Monetising Reels

Opening the Reels Play Bonus program to more creators on Facebook, and letting creators post their Reels to Facebook

Creator marketplace

Meta is testing a set place on Instagram where creators can get discovered and paid for their content, and brands can share new partnership opportunities

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, June 23 2022. 00:57 IST