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| Facebook pays billions of dollars to creators |
Facebook plans to pay content creators $1 billion over the next year and a half to get content creators to use its many services.
This money goes to content creators who use the company's products in different ways:
- Via Facebook: Content creators can earn cash rewards from their video ads or visit some of the major landmarks during a live broadcast.
- Via Instagram: Content creators can be paid for their IGTV videos to activate ads, receive claims during live broadcasts, or create popular videos through reels.
Currently, creators can only be funded through invitations. New profitable options will be announced later.
The platform announced that it will expand its availability to other creators this year and will publish a prize space in the Instagram app this summer and in the Facebook app in the fall.
Mark Zuckerberg, the company's CEO, wrote that the plan is to make Facebook the best platform for millions of content creators to make money. The funds will be released by the end of 2022.
Now that other companies have created more attractive content creator websites over the years to build platforms and companies, this is a bold move from Facebook.
Recently, apps like Tik Tok and Snapchat have offered to pay content creators directly for trending videos posted on all platforms.
Facebook pays billions of dollars
After Spotlight launched in November through May, Snapchat was paying creators $1 million per day. A Snap spokesperson said the company continues to pay millions of dollars a month.
Facebook provides ways to earn money for content creators. However, options vary by service. Some features (eg scripts) may not be paid to YouTube users.
Facebook's approach is more confusing than other companies and uses money as a reward for accomplishing different activities and goals rather than focusing on a single product.
But the intent seems to be to invest the money to provide the company with a variety of different services at the same time. This sets him apart when he sees the start of a new competition from companies like Tik Tok and Club House.
The social network announced last month that it will not collect any commissions from creators until 2023. This is another attempt to make the network more attractive.
The company seems serious about turning content producers into a new source of income. And advertising issues elsewhere on the platform. If the business grows large enough, tips and direct payments can support the business.