Meta will introduce new monetization tools on Instagram and Facebook

Meta CEO Mark Zuckerberg announcedThe company is introducing more ways for creators to make money on Facebook and Instagram, and is also expanding some of its current monetization tools. Zuckerberg also said that in order to get more money directly to the creators, Meta will keep paid online events, fan subscriptions and newsletters free for the creators until 2024. The company has previously said it will. by 2023.

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Meta introduces new monetization tools

Zuckerberg has announced that Meta is testing a designated place on Instagram where creators can discover content and pay for it. He noted that the marketplace for creators allows brands to share new partnership opportunities. Once the brand finds the creator they want to work with, they can send it a project with details, including information on deliveries and payments.

Meta also runs interoperable subscriptions to allow creators to allow their paying subscribers on other platforms to access Facebook groups only for subscribers.

Regarding the company's current monetization offer, Zuckerberg announced that Meta is opening the Facebook Reels Play Bonus program to more creators on Facebook and also allows creators to post their monagram short videos on Facebook and monetize them there as well.

Starting next week, creators can apply for the Facebook Reels Play bonus program if they have created more than five and have a total of at least 100,000 views in the last 30 days. Prior to this expansion, the program was by invitation only.

Zuckerberg also announced that Meta is opening Facebook Stars, virtual items that allow fans to express their support to their favorite creators, all eligible creators. Starting this week, authors with at least 1,000 followers in the last 60 days will be able to sign up.

"We're moving towards a future where more people can do creative work that they enjoy, and I want platforms like ours to play a role in making that happen," Zuckerberg said.

Zuckerberg also announced that Meta is expanding its NFT test on Instagram, so more creators from around the world can view their NFT on Instagram. Supported blockchains for NFT demonstrations on Instagram are Ethereum and Polygon, with support for Flow and Solana coming soon. Zuckerberg noted that the company will soon bring this test to Facebook as well. The Facebook test will allow creators to cross posts on Instagram and Facebook. He is also soon going to test the NFT on Instagram Stories.

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