Facebook will lure creators with $1 billion in payments

Facebook just announced plans to pay content creators more than $1 billion by the end of next year through new bonus programs designed to keep creatives plugged into its app ecosystem. Facebook founder and CEO Mark Zuckerberg first announced the new funding to “reward creators for great content” on his Facebook page.

The company will pay creators through a series of new bonus initiatives across Facebook and Instagram which are “seasonal, evolving and expanding over time.” The bonus programs will have a dedicated hub within the Instagram app later this summer and in the Facebook app later this year.

The company will offer the first new bonuses to creators making videos on Facebook with in-stream ads enabled. Facebook is also expanding bonuses through its Stars system, which invites viewers to send streamers tips in exchange for fan perks. Creators making videos or livestreaming games will be eligible for monthly bonuses based on how many viewers send them payments via Stars through October.

Instagram will introduce its own bonuses, which will be invite-only to begin with. Within the next few weeks, U.S. creators can collect a one-time bonus for enabling IGTV ads. Other bonuses will reward creators for making Reels, Instagram’s answer to TikTok’s short-form video success, and for hitting certain milestones in Instagram Live.

Facebook’s foray into creator payments is just the latest effort to jump-start TikTok competitor products with cold hard cash. Snapchat hands out $1 million each day to the most popular videos in its short-form video product Spotlight. YouTube has its own $100 million fund for YouTube Shorts, the company’s own TikTok clone.

TikTok itself launched a $200 million creator fund last year, though the app doesn’t seem to have much to worry about (yet, anyway). According to data from SensorTower, TikTok just surpassed 3 billion global downloads. The only other apps to have crossed that milestone are WhatsApp, Messenger, Facebook and Instagram — all owned by Facebook.

Credit belongs to : www.techcrunch.com

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