Mark Zuckerberg on Tuesday shared a host of updates to Facebook and Instagram that would help creators make more money and build for the metaverse.
In a Facebook post, he said that he wants these platforms to play a role in a future where “more people can do creative work they enjoy.”
Here are the updates, listed my Meta CEO:
1. Creators earn more money
Zuckerberg said that Facebook and Instagram will “hold off on any revenue sharing until 2024.” He added that this includes paid online events, Subscriptions, Badges, and Bulletin.
2. Interoperable subscriptions
Subscriber-only Facebook groups will be available to be accessed by creators’ paying subscribers.
3. Facebook stars
Facebook stars, a feature that lets creators monetise video and audio content, will be open to “all eligible creators” so that they can earn from their content.
4. Monetisation of reels
Zuckerberg announced that the Reels Play Bonus programme will be available to more creators on Facebook, and that creators can cross-post their reels from Instagram to Facebook, in order to monetise them on both platforms.
5. Creator Marketplace
Creator marketplace is a new Instagram feature that is being tested now. It is a platform that connects creators and brands so that the former can get discovered and paid, and the latter can share partnership opportunities.
6. Digital collectibles
Zuckerberg announced that more creators around the world will be able display their NFTs on Instagram, and that the feature will soon be available on Facebook too – although starting with a “small group of US creators”. The company will also test NFTs in Instagram Stories with SparkAR soon.