Social media giant- Facebook has reportedly announced that it would spend over $1 billion on digital content creators by the end of 2022 through its newly introduced bonus programs designed to keep creators hooked onto its application platform.

The initiative was first announced by Mark Zuckerberg- founder and CEO of Facebook. Under this initiative, creators will be paid through a series of new bonus measures across social media platforms- Facebook and Instagram, that is evolving and expanding overtime.

The program will come with a dedicated hub within the Instagram application by summer’21 and in Facebook in the latter half of this year. In addition to above, Facebook will offer new bonuses to the creators who make videos on the social media platform with in-stream advertisements enabled. Moreover, the firm will offer bonuses through its Star system that invites viewers to share tips with streamers in exchange for fan perks.

According to Facebook, content creators who live stream games or make videos will be eligible for bonuses every month based on the number of viewers sending payments via Stars through October.

On the other hand, Instagram will launch its bonuses which initially will only be invitation-based. With time, creators in the U.S. will be able to gain a one-time bonus for allowing IGTV advertisements. Other bonuses will include rewarding creators for making reels – a 15-second video clip-making feature, and for crossing certain milestones during Instagram Live sessions.

With many prominent video-sharing social media companies introducing monetization channels for creators like Snapchat providing USD 1 million daily to the most trending videos in its short-form video product- Spotlight, and YouTube comprising of its USD 100 million funds for YouTube Shorts, its take on TikTok, it was about time Facebook joined the lead.

Source Credits: https://techcrunch.com/2021/07/14/facebook-creator-bonuses/