Meta recently announced that they are expanding the ways creators can earn money on Facebook and Instagram.
Meta Announces New Ways for Creators to Monetize Facebook and Instagram
Meta also stated that they will be extending their commitment to not take fees on Subscriptions, Badges, Paid Online Events and Bulletin by an additional year. The no-fee status will now continue until January 1, 2024.
Facebook Stars Now Open to All Eligible Creators
One part of the monetization expansion includes Facebook Stars, which has only been available to selected testers until now. The ‘digital good’ allows fans to buy and send support to their favorite creators and is now open to all eligible creators on Facebook Live and on-demand videos. It will soon be available on Facebook Reels too.
The eligibility criteria requires creators to have at least 1,000 followers through the last 60 days. They must also be compliant with the Partner Monetization Policies and Content Monetization Policies. There are also location restrictions as not every country is eligible at the moment, but the United States is one of the markets that is eligible.
More Facebook Reels Earning Opportunities
On the About FB website, Meta explained the new earning opportunities for Facebook Reels, saying: “Last year, we announced our Facebook Reels Play bonus program, which gives creators the opportunity to earn money from Facebook by creating and sharing eligible public Reels. To date, this has only been available to select creators on an invite-only basis. Soon we’ll open an application process for US-based creators who meet [certain] criteria.”
The criteria for creators requires them to have five or more original reels created in the last 30 days, plus over 100,000 plays in the last 30 days. They must also be compliant with the Partner Monetization Policies and Content Monetization Policies.
Meta also explained that they are testing ways creators can earn money on both Instagram and Facebook with cross-posted Reels. It will be through the ‘Paid Partnerships with’ label for branded content on Facebook Reels which will allow sponsors to easily convert them to Branded Content Ads.
“We will soon begin testing Creator Marketplace on Instagram, where brands and creators can more easily build branded content partnerships,” added Meta. “Creators will be able to indicate the brands and topics they’re interested in making branded content for, discover opportunities to partner with vetted brands and manage their brand deals without ever leaving the app. We’ll also begin testing in-app payments, so brands can pay creators for branded content directly through Instagram when a project is complete.
“Brands will also be able to discover and collaborate with Instagram creators through Meta Business Suite using demographic and interest filters for both a creator and their audience. When they’ve found a creator they want to partner with, they’ll be able to send a project that outlines the details of the opportunity, including deliverables and payment offered.”
Availability of Digital Collectibles
Meta are also expanding their test of digital collectibles on Instagram to more creators and a few additional countries. Now more creators and collectors will be able to share their digital collectibles across Facebook and Instagram once the feature rolls out on Facebook with a select few U.S. creators.
Image: Depositphotos
This article, "Meta Announces New Ways for Creators to Monetize Facebook and Instagram" was first published on Small Business Trends
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Gabrielle Pickard-Whitehead, Khareem Sudlow
