Last Updated on 15/07/2021 by Riya
Facebook today has revealed its intention of paying more than $1 billion as bonuses to content creators through the end of 2022 as part of a new reward program aimed at staying content creators engaged into its platform, the news about the new financing to “pay creators for exceptional work.” was officially disclosed by Mark Zuckerberg on his page.
Facebook will reward contributors using a bunch of additional bonus efforts. Creators who make videos on Facebook with in-app advertisements will receive the first new rewards from the platform. Facebook plans to distribute bonuses via the Stars service, which enables users to offer a tip to the content creators for their exceptional work. Throughout October, creators who make videos or live stream gameplay will be entitled to monthly rewards depending on how many people donate their money via the Stars system.
On the other hand, Instagram will also provide its perks, which will be limited to only welcome users. Creators in the United States can get a one-time incentive for allowing advertisements on IGTV in the coming weeks. Additional bonuses will be granted to creators who often create best Reels, and reach certain Instagram Live milestones. Facebook’s move to reward creators is the biggest attempt to compete with TikTok and other short video-sharing platforms. Earlier before TikTok, last year, Snapchat had also decided to invest $1 million every day to reward most viewed ‘Spotlight’ videos. Furthermore, YouTube also keeps aside a $100 million budget to reward the best YouTube shorts.
Last year, TikTok had also announced to give $200 million to content creators who’re working day, and night to create good content for their followers. The fund was granted to assist them in making more creative content without any barrier and inspired by TikTok Facebook, Snapchat, YouTube have also followed in its footsteps to keep the users and content creators engage with their platforms.