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Facebook dangles a carrot of $1 billion in earnings to lure creators
It competes with the likes of YouTube Shorts, Snapchat and TikTok in the race for creator interest.
Facebook will reward over $1 billion to content creators till the end of 2022 through its bonus programs that will be “seasonal, evolving and expanding over time.”
The programs are available to select creators by invitation. They will have a dedicated place within the Instagram app later this summer, and in the Facebook app later this year.
Bonuses available on Facebook:
Facebook says that the first bonus opportunity on its platform will “help the creators earn more, while learning how to create content that can be monetised.”
Select video creators, using in-stream ads (inserting ads into qualifying videos), stand to receive earning bonus over the next four months.
The social media platform is expanding its Stars Challenges to include select gaming creators. Participating video and gaming creators will receive a monthly bonus for hitting specific Stars milestones over the next three months.
Bonuses available on Instagram:
The first bonus opportunity on Instagram “will reward the creators for signing up for IGTV ads and using badges in Live and Reels.”
The IGTV ads bonus, available to the creators in the US now, allows them to earn a one-time bonus for signing up for IGTV ads. This enables the creators to earn a share of revenue when ads run during their videos.
The badges in Live bonus, currently available to the creators in 11 countries, will reward them when they meet certain milestones with badges, such as going Live with another account.
The Reels Summer bonus, launching in the coming weeks to the creators in the US, will pay them for creating great Reels content on Instagram. Creators can find the Reels summer bonus in the new Bonuses section of the Instagram app, and will earn based on how their Reels perform.
This whole race to lure creators has the world’s biggest tech brands competing against each other, but sharing a common goal: to topple TikTok from the top spot.