The American social media behemoth Facebook plans to pay out $1 billion through 2022 to users who create content for its platforms in line with its effort to lure content makers to its many services.
The money will be awarded to creators who use Facebook products in different ways, on Facebook, creators can get a cash bonus for running ads on their videos or reaching certain tipping milestones during live streams and on Instagram, creators can get paid for enabling ads on their IGTV videos, getting tipped in live streams, or creating popular videos on Reels.
“We want to build the best platforms for millions of creators to make a living, so we’re creating new programs to invest over $1 billion to reward creators for the great content they create on Facebook and Instagram through 2022,” Facebook CEO Mr. Mark Zuckerberg wrote in a post.
The money is available to creators on an invitation-only basis for now, and new options to earn rewards will be announced later. Facebook indicated it would expand availability to more creators later in the year.
As part of this initiative, the company plans to roll out new bonus programs between now and the end of the year that will pay out creators for reaching specific milestones, Facebook said in a statement.
Among the upcoming bonus programs ‘Reels Summer Bonus’ is one that will launch in the coming weeks and pay users in the US who create great Reels content for Instagram.
The company said it plans to launch dedicated spaces within its Instagram app this summer and the Facebook app this fall where creators can go to learn about bonuses that they can work toward.
Facebook’s approach is more confusing than other companies, framing the money as a “bonus” for completing various activities and goals, rather than focusing on a single product. It seems the company is trying to stand out as the apps start to see new competition from companies like TikTok and Clubhouse.
The company appears to be serious about turning creators into a new source of revenue. With ad issues elsewhere on the platform, direct tipping and payments can offer Facebook a backup if they grow to a big enough scale, though there’s certainly a long way to go.