It was revealed that Meta is introducing some new creator monetization options, including new metaverse and Web3-aligned options along with reel payment and NFTs.
First off, Meta is now developing a new Creator Marketplace on Instagram, where creators will be able to be discovered by brands for prospective partnership opportunities.
The new Creator Marketplace will enable creators to indicate their interests and the kinds of content they need to produce. This in turn can help manufacturers find possible matches for their campaigns.
This new process will be more Instagram-specific, giving IG creators another way to connect with opportunities. Meta also has its Brand Collabs Manager, which essentially supports the same.
Additionally, Meta is expanding its Reels Play Bonus programme to more Facebook artists. This will enable more creators to rapidly cross-post their Instagram Reels to Facebook and monetise them in both applications.
As part of a larger initiative to give top artists more motivation to keep sharing their Reels within the app, Meta introduced its Reels Play Bonus programme in September of last year.
Given that Reels is currently its fastest-growing type of video, it makes sense to capitalise on this whenever possible to keep its top stars from migrating to TikTok and YouTube.
Similar to this, Meta is expanding its Facebook Stars creator donation programme to include all qualified creators in order to enable “more people to start earning from their Reels, live, or VOD videos.”
Facebook Stars are basically a virtual currency that can be purchased in a variety of bundles. Users can then distribute them to creators via live streams (audio and video).
Before, in order to be eligible for stars, users had to run a Gaming Video Creator Page, have more than 100 followers, and stream sports content for a minimum of 2 days and a maximum of 4 hours over the course of a single continuous 14-day period.
But more recently, Meta has also started boosting Stars to Reels as well, which may ultimately provide more opportunities for more producers to profit from this method.
There are few limitations, but stars can be found nearly everywhere.
Additionally, Meta is introducing “interoperable subscriptions”, which may enable creators to grant access to subscriber-only Facebook Groups to their paying customers on various platforms
In addition to expanding the pool of potential candidates for the option, Meta is also preparing to bring NFT show to Facebook, “starting with a small group of US creators,” after launching an initial examination of NFT show options on Instagram back in May.
Last but not the least, Meta adds that it won’t start adopting any revenue-sharing mechanisms on Facebook and Instagram until 2024, meaning that creators will be able to claim 100% of any money raised through Events, Subscriptions, Badges, and Facebook Bulletin.
These are some excellent improvements in a variety of categories, and as the race for creative talent intensifies, Meta must continue to develop its options in lockstep to avoid falling behind TikTok and YouTube in this regard.
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