Additionally, the social media business is giving new opportunities for content producers to monetize their work on its many platforms.
Mark Zuckerberg, the CEO of Facebook and Instagram, recently made the announcement that content producers on those platforms will not be required to donate a portion of their earnings until 2024. This comes as a surprise given that Meta previously stated it would postpone income sharing until 2023 at the earliest. We are going to postpone the implementation of any revenue-sharing policies on Facebook and Instagram until 2024. This includes subscriptions, badges, paid online events, and bulletins, Zuckerberg stated in a statement on Facebook.
Additionally, the social media business is giving new opportunities for content producers to monetize their work on its many platforms. According to Zuckerberg, developers will soon have the ability to establish Facebook groups that are accessible exclusively to subscribers. In these groups, users will be required to pay a fee in order to participate in group chats.
According to Zuckerberg, Facebook Stars will soon be available to all artists who meet the requirements “so that more people can start earning from their Reels, live, or VOD videos.”
He also disclosed that an increased number of content providers will be qualified for monetization opportunities, such as cash bonuses for producing popular Reels. “We’re opening up the Reels Play Bonus programme to more creators on Facebook shortly, and we’re enabling artists cross-post their Instagram Reels to Facebook so they can monetize them there as well,” he continued. “We’re also opening up the Reels Play Bonus programme to more creators on Instagram.”
This past week, Mark Zuckerberg made an announcement on the opening of a new clothes boutique for digital avatars that would be known as the “Meta Avatars Store.” He did so in conjunction with Eva Chen, who is the vice president of fashion partnerships for Instagram, and the announcement was broadcast live on Instagram. “We’re introducing our Avatars Store on Facebook, Instagram, and Messenger so that you’ll be able to purchase digital garments to decorate your avatar. The consumption of digital commodities will play a significant role in the expansion of the creative economy and become an essential means of self-expression in the metaverse. In a post he made on Facebook, he stated, “I’m delighted to add more businesses and to bring this to VR as soon as possible.”
According to an internal document from late April that was obtained by The Verge, workers of Facebook have been given a new instruction to make the app’s feed more similar to TikTok. This information was revealed in another piece of news. According to the letter, Facebook’s main feed will soon begin promoting messages regardless of where they originate from. Previously, the feed gave priority to postings from accounts that users followed. The usage of artificial intelligence (AI) in the manner in which TikTok provides its viewers with recommendations of short-form videos from across the platform is comparable to this.