Meta has announced plans to extend its existing delay on accepting revenue splits with both Instagram and Facebook creators. The company first announced the ploy back in June 2021 via a Facebook post published by Meta CEO Mark Zuckerberg, who cited the one-year-long pause on revenue cuts with the two sites as a way "to help creators make a living on our platforms."
Zuckerberg headed another Facebook post on June 21, 2022, which furthers the revenue split pause into 2024 alongside other key details surrounding Instagram and Facebook monetization schemes. The CEO himself relayed in the post:
"Rolling out more ways for creators to make money on Facebook and Instagram - and sharing updates that will help creators build for the metaverse. We're heading towards a future where more people can do creative work they enjoy, and I want platforms like ours to play a role in making that happen."
There are several ways creators can make money on both Instagram and Facebook, but a majority of their revenue comes from features such as badges, paid events, and subscriptions. Zuckerberg's post highlights that any such revenue made from these pools on the platform will go straight to the creators until 2024, wherein splits will begin. The firm has not yet voiced potential numbers regarding its future revenue splits but will certainly have to remain competitive in the face of rival media sites.
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Zuckerberg also alluded to several new additions to Facebook and Instagram monetization tools, giving creators more ways to make money on both platforms. One such incentive for Facebook creators will be a subscriber-only group function, which will allow creators with subscribers on other sites to pool their community of subscribers into a Facebook group for privatized chatting.
Yet another feature that will arrive soon on Instagram is the so-called creator marketplace, wherein both brands and creators can discover the perfect fit for specific partnerships and content, not unlike TikTok's own Creator Next hub. The firm is also looking to expand its NFT sharing into territories beyond the US, as well as bringing the option to Facebook within the near future, first headed by specific US users.
One of the biggest incentives to drive creators to its platform is the announcement of a larger eligibility program for Instagram and Facebook creators, allowing more users to make a profit on their content potentially. Specifically, Zuckerberg pointed out that cash bonuses made from short-form videos called Reels on Facebook will go out to even more creators. Creators will likewise be able to make money on their Instagram videos that are cross-posted to Facebook, and the platform's internal tipping function, called "Stars," will also be expanded for more eligible creators.
The move is yet another way for Meta to draw creators away from other sites, most prominent among them being TikTok and YouTube, both of which have experienced immense growth in their respective shorts content push. Within the last week, Google announced that YouTube had surpassed 1.5 billion Shorts viewers, while TikTok is set to hit that number soon (if it hasn't already). TikTok alone has an average US audience of around 80 million monthly active users.
Twitch, too, recently updated its ad revenue options with creators, which has caused several issues for some streamers on the platform while others have seemingly thrived. The update for Twitch revenue landed on June 14, giving streamers a 55% split on revenue gained from an individual ad played during their stream, which is highly more feasible in contrast to the platform's previous model of utilizing a flat rate for every 1,000 ads played on a creator's channel.
US Facebook creators can apply for the Reels Play bonus program next week, which will allow Facebook content creators with at least 100,000 views and over five existing Reels to potentially make additional profits under Meta's $1 billion creator fund.
