Meta announced that it would not be taking any commissions from creators until early 2024. The company said it was extending its previous commitment for another year.
The company said: “We are extending our commitment to waive fees on subscriptions, badges, paid online events and the newsletter for an additional year, through January 1, 2024.”
The company is also developing “Stars”, a feature that allows users to support their favorite creators. “Facebook Stars, a digital good that fans can purchase and submit to support creators, is now open to all eligible creators on Facebook Live, Video on Demand and will soon be available on Facebook Reels.”
The company has announced that it will soon expand “Stars” to Reels as well.
Last year, the company announced a “Facebook Reels Play bonus program” that gave creators a way to earn money by creating public reels. However, that was only for certain creators. Now, the feature will be available to creators in the US through an app and to creators who meet the following criteria.
- 5+ Original Reels created in the last 30 days
- Over 100,000 plays in the last 30 days.
“We’re also testing ways creators can make money on Instagram and Facebook with cross-posted Reels. Creators will soon be able to use the ‘Paid Partnerships With’ label for branded content on Facebook Reels and allow sponsors to easily convert them into Branded Content Ads,” he added.
Instagram Creator Marketplace
Meta further said it is testing Creator Marketplace on Instagram, where creators and brands can easily establish content partnerships.
Creators will be able to define the type of brands and products they want to work for. They will be able to discover relevant partnerships and easily manage brand deals.
“Brands will also be able to discover and collaborate with Instagram creators through Meta Business Suite using demographic and interest filters for a creator and their audience. Once they find a creator they want to partner with, they will be able to send a project that outlines the details of the opportunity, including deliverables and payment offered.”
Additionally, Meta announced its investment in “interoperable subscriber groups”. This allows creators to receive payments from their fans on other platforms and automatically add them to their followers-only Facebook groups. However, this feature is currently in the testing phase.
More creators will now be able to share digital collectibles (NFTs) on Meta platforms. “Creators and collectors will be able to share their digital collectibles on Facebook and Instagram once we begin rolling out the feature to Facebook with select US creators at a later date. We will also soon begin testing NFTs in Instagram Stories with SparkAR.”
“There will be no fees associated with posting or sharing a digital collectible on Instagram, and at this time we will not offer the ability to turn digital collectible posts into advertisements,” added Meta.