Facebook, Instagram add monetization tools, waive revenue share until 2024
Mark Zuckerberg announced that Meta will not take a share of the revenue from paid online events, fan subscriptions, badges, and its upcoming independent news products until 2024.
The company previously said it would waive through the end of this year.
Instagram Creator Marketplace & More
Another big win for Instagram creators is a new Creator Marketplace – a place on Instagram where creators can “get discovered and paid,” and where brands can share new partnership opportunities. TikTok has a similar marketplace that has been generally praised by creators,
Facebook and Instagram are also adding other features that mean more revenue for musicians and other creators:
- Interoperable Subscriptions: Creators can give their paying subscribers on other platforms access to subscriber-only Facebook Groups.
- Facebook Stars: They are now opening them up to all eligible creators so more can start earning from their Reels, live, or VOD videos.
- Monetizing Reels: They are now opening up the Reels Play Bonus program to more creators on Facebook soon and letting creators cross-post their Instagram Reels to Facebook and monetize them there too.
- NFTs & Digital Collectibles: An recently announced expanded test will allow more creators to display their NFTs on Instagram and moe meta says that the feature come to Facebook soon. They will also be testing NFTs in Instagram Stories with SparkAR soon.
Bruce Houghton is the Founder and Editor of Hypebot and MusicThinkTank and serves as a Senior Advisor to Bandsintown which acquired both publications in 2019. He is the Founder and President of the Skyline Artists Agency and a professor for the Berklee College Of Music.