Meta adds new creator monetization options, including new options aligned with the Metaverse and Web3, as it seeks to build the next platform for creative expression and engagement, and ensures that it continues to post its top stars on its apps in the future.
First, Meta is testing a new Creator Marketplace on Instagram, where creators can be discovered by brands for potential partnership opportunities.
As you can see in the first screenshot above, the new Creator Marketplace will allow creators to list their interests and the types of content they want to create, which will then help brands find potential matches for their campaigns.
Meta also has its Brand Collabs Manager, which essentially facilitates the same thing, but this new process will be more Instagram-specific, providing another avenue for IG creators to connect with opportunities.
Meta is also expanding its Reels Play Bonus program to more creators on Facebook, which will soon also allow creators to post their Instagram Reels to Facebook and monetize them in both apps.
Meta launched its Reels Play Bonus program in September last year as part of a larger campaign to further incentivize top creators to continue posting their Reels in the app. And given that Reels is now its fastest growing type of content, it makes sense to lean where it can, in an effort to keep its top stars from drifting to TikTok and YouTube instead.
On a similar note, Meta is also expanding its Facebook Stars creator donation process to everyone eligible creators “so more people can start making money from their Reels, Live or VOD videos.”
Facebook stars are essentially a virtual currency which can be purchased in different packages, which then allows Facebook users to assign them to creators via live streams (audio and video).
Until now, to be eligible to receive stars, users had to run a game video creator page, have more than 100 subscribers, and stream game content for at least 2 days, for at least 4 cumulative hours, in a consecutive 14-day period.
But more recently, Meta has also started expanding Stars to Reels, which will eventually open up more opportunities for more creators to earn through the program.
Stars are available in most regions, although there are some restrictions.
Meta also adds ‘i“Interoperable Subscriptions,” which will allow creators to give their paid subscribers on other platforms access to subscriber-only Facebook groups (you can see an example of this in the third image above).
And then there are NFTs and Meta’s early moves on digital collectibles.
After launching an initial test of NFT display options on Instagram in May, Meta is now expanding the testing pool for the option, while also planning to bring NFT display to Facebook, “starting with a small group of American designers.
NFTs remain a moot point, with some seeing them as the future of digital collaboration and community, and others seeing them as an enrichment program, with limited value. I’m not sure current NFT profile pictures will remain a thing in the next stage, but the market for digital assets is definitely set to increase, in the form of avatar clothing, game items, virtual, etc.
But, with NFT NYC taking place this week, it’s clear that interest in digital profile pictures remains, which could make this a lasting trend.
Finally, Meta also notes that it will suspend the implementation of any revenue sharing process on Facebook and Instagram until 2024, which means creators will be able to claim 100% of all funds raised through events, subscriptions , badges and the Facebook newsletter.
These are some valuable additions, across a range of areas, and as the competition for creative talent intensifies, it’s important for Meta to continue to evolve its offerings over time, to ensure that it is not losing to TikTok and YouTube in this space.
Because Meta will need these creators to fuel his metaverse vision, and if he loses them now, they may not return. This will be the next step in its process, with more funding for Horizon Worlds creators and those working on VR elements.