New ways to make money on Facebook
Meta offers creators more ways to make money on Facebook and Instagram and share updates with them that will help them build the metaverse.
Facebook CEO Mark Zuckerberg said, "We're moving toward a future where more people can do creative work they enjoy, and I want platforms like ours to play a role in making that happen."
Meta offers new ways to make money on Facebook and Instagram
Meta will open up the reel play bonus program to more creators and allow them to post their Instagram reels on Facebook and monetize them as well. In addition, creators will have a creator marketplace where they can be discovered and get paid or connected with brands for partnerships among other things.
Mark says, "We're expanding our test so that more creators around the world can post their NFTs on Instagram. We will soon bring this feature to Facebook as well starting with a small group of US creators so people can post to Instagram and Facebook.
Testing digital collectibles
Meta has been testing digital collectibles on Instagram since May. The feature includes connecting a digital wallet, sharing digital collectibles and automatically tagging the creator and collector for free so creators can leverage new tools to earn income.
Facebook Stars
Additionally, Meta is opening up facebook stars, these are virtual items that allow fans to express their support for their favorite creators, however, this option will be eligible for creators in regions where Facebook starts are available.
Adhere to monetization policies
Starting this week, creators who have at least 1,000 followers in the last 60 days will be eligible to participate. Creators must similarly adhere to Meta's partner monetization policies and content monetization policies. Meta is also bringing back Stars Fest, a month-long celebration from June 15 to July 15 that recognizes Facebook Stars creators.
Zuckerberg further announced that they are allowing interoperable subscriptions where creators will give their paying subscribers a subscriber-only Facebook group option to create more ways to make money. The company notes that these exclusive groups are Meta's first investment in interoperable monetization tools for creators, which allow creators to receive payments from their fans on other platforms and offer access to exclusive Facebook features.
In the Facebook feed, he added, we will suspend all revenue sharing on Facebook and Instagram through 2024. This includes paid online events, subscriptions, badges and the newsletter."
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