Instagram, Facebook to Delay Taking Commission From Creators
Meta CEO Mark Zuckerberg has announced that the company will “hold off on any revenue sharing on Facebook and Instagram until 2024,” a year later than originally planned.
Under this move, Instagram and Facebook will take a commission from offerings like fan subscriptions, paid events, badges and the company’s newsletter platform and Substack competitor Bulletin;
where creators currently get to keep the entirety of their revenue from those platforms.
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The executive also said Instagram and Facebook will expand its Reels bonus programme to more creators and allow them to monetise their short-form videos across both platforms.
Stars, a tipping method on Facebook, will also be available to all eligible creators.
(Facebook does impose a tax when fans purchase Stars: creators get a penny for each Star they receive, but fans typically purchase them for more.)
The company is also testing out a “creator marketplace that will allow brands and creators to interact for sponsorships and other business opportunities — a service that takes a page directly from TikTok;
which offers its own marketplace for marketers and creators.”
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“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,”
Zuckerberg wrote in a Tuesday Facebook post announcing the updates for creators.
