Meta Details Plans To Consolidate Monetization Programs After Revealing It Paid Creators More Than $2 Billion This Year
When it comes to monetization opportunities, creators don’t usually click well with Facebook, or so we may believe.
It’s Instagram, YouTube, and of course, TikTok that leads the way in terms of creator monetization programs. But what if we told you that the creators of the app are still alive and kicking, far from sleeping?
Today, Meta confirms that its Facebook creators earned more than $2 billion this year so far. That’s quite an achievement, if we must say so ourselves.
The company is working towards making its monetization opportunities more streamlined in design. This includes adding more incentives to those engaged in producing reels, long-form videos, and posts featuring text. These changes might encourage more creators to step up to the plate and use their efforts to make engaging content through the app.
Remember, it’s really easy to note how the app makes money through three simple means. This includes in-stream ads, performance bonuses, and then ads seen on Reels. As per stats from Zuckerberg, payments for short-form content including Reels have grown by more than 80%. Since the rollout of monetization programs starting in 2017, the firm has helped more than four million creators from all over the world.
We agree that it’s an impressive feature and one that Meta should be proud of. However, we cannot forget that it’s still not comparable to the mighty success that other arch-rivals in the industry offer. For instance, let’s take video streaming giant YouTube as an example. The app has paid more than $70B in the past three years through this partner program.
Therefore, for creators, adding another stream of revenue is always helpful. But some Meta initiatives such as performance bonus offerings are quite unreliable, as time has proven.
Several years back, after the launch of Reels, creators were told they were going to earn thousands each month, provided they met the target of a certain view count. Now, the payments have gone downhill by a huge amount.
Meta is providing more benefits in other apps like Threads and Instagram so that’s why you’ll see more creators flocking in herds there, as compared to good old Facebook. As far as the latter is concerned, the bonus offerings are working on an invite-only status. We hope that can change soon.
This week, the app will invite 1M content creators making money through the platform already. They will get the chance to join a new beta for Content Monetization. Then in 2025, we will see creators getting the chance to join via open enrollment schemes.
Image: DIW-Aigen
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