Facebook CEO Mark Zuckerberg said “We’re heading towards 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 will be opening up reels play bonus program to more creators and let them cross-post their Instagram reels to Facebook and monetize them as well. Creators will also have a creator’s Marketplace where they can get discovered and be paid or linked up with brands for partnerships among others. Mark says, “We’re expanding our test so more creators around the world can display their NFTs on Instagram. We’ll bring this feature to Facebook soon too — starting with a small group of US creators — so people can cross-post on Instagram and Facebook. We’ll also test NFTs in Instagram Stories with SparkAR soon.” Meta has been testing Digital collectables on Instagram since May. The feature includes connecting a digital wallet, sharing digital collectables and automatically tagging the creator and collector for free as a way of letting creators leverage new tools to earn income. Additionally, Meta is opening facebook stars, these are virtual items that allow fans to express their support for their favourite creators, however, this option will be eligible to creators in regions where Facebook starts are available. Starting this week, creators who have at least 1,000 followers over the last 60 days will be eligible to onboard. the Creators must also meet 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 a festival that recognizes Facebook Stars creators. Zuckerberg also announced that they are allowing interoperable subscriptions where creators will be giving their paying subscribers a subscriber-only Facebook group option to give creates more avenues to make money. The company notes that these exclusive groups are Meta’s first investment in interoperable monetization tools for creators, which lets creators receive payments from their fans on other platforms and offer access to exclusive features on Facebook. In the Facebook thread, He added, We’ll hold off on any revenue sharing on Facebook and Instagram until 2024. That includes paid online events, Subscriptions, Badges, and Bulletin”.
