Meta CEO Mark Zuckerberg announced that the company is rolling out tools to help select creators earn money on Facebook and Instagram. In a Facebook post dated June 21, Zuckerberg said Meta was rolling out updates to Facebook and Instagram to “helping creators create for the metaverse” as well as growing the creator economy.
In a Facebook post, the CEO shared six new updates, the first being more revenue for creators, with social media platforms withholding any form of revenue sharing like paid online events, newsletter, badges and subscriptions until 2024.
According to the previous commitment which has now been extended, more revenue for creators was to go through 2023. Zuckerberg previously claimed the company would take “less than the 30% that Apple and others take.
The Future of Metaverse Content Creators
With the help of Interoperable Subscriptions, creators will allow other paying subscribers to access subscriber-only Facebook groups. In addition to this, a Facebook star section will be open to all eligible creators to allow users to win Reels, VOD, and Live Video.
Additionally, The Reels Play Bonus program will also be opened so that more creators may be able to post Instagram Reels to Facebook and monetize them.
Instagram Creator Marketplace
Meanwhile, Instagram Creator Marketplace testing is underway to allow creators to be discovered and paid, as well as for brands to share new partnership opportunities.
Additionally, the company is also expanding its creators of digital collectibles to use and showcase NFTs on Instagram. The CEO said the feature will be coming to Facebook soon and it will start with a small group of US creators, however, there will be specific requirements that creators will need to meet so that the new upgrade is only available to users. eligible. creators.
However, Instagram is already using the feature after testing NFTs through their digital collectibles in May, on top of that TikTok has its Creator Market. This challenges Meta to pursue more unique content for its platform despite the scrutiny from whistleblowers.
Limit fake reviews on Facebook
On June 20, Facebook launched a new community comment policy after some users started spreading fake news on the platform, especially the business community who use the platform for advertising.
The company said:
“Businesses must now comply with our Community Feedback Policy, which specifically prohibits review manipulation, incitement, irrelevance, graphical content, and spam.”