Mark Zuckerberg has some good news for creators on Facebook and Instagram. The Facebook CEO in a detailed post via his official account said that the company will hold off on any revenue sharing revenue sharing on Facebook and on Instagram until 2024. “We’ll hold off on any revenue sharing on Facebook and Instagram until 2024. That includes paid online events, Subscriptions, Badges, and Bulletin,” he wrote in the post. Also Read - Mark Zuckerberg shows off Meta's virtual reality headset prototypes: Check details
In addition to this, Zuckerberg also announced new ways for creators to earn money on the two social media platforms. The list includes features such as digital collectibles, Stars and interoperable subscriptions among others. Zuckerberg said that these features “will help creators build for the metaverse.” Also Read - Meta CEO Mark Zuckerberg announces a designer clothing store for avatars
New features for coming to Facebook and Instagram
In total, the Facebook founder announced five new features for creators on Instagram and Facebook. Here are the details: Also Read - Facebook is planning a major redesign to compete with TikTok
Interoperable Subscriptions: This feature will let creators give their paying subscribers on other platforms access to subscriber-only Facebook Groups.
Facebook Stars: Zuckerberg also said that the company is opening its tipping feature called Stars to all eligible creators so more people can start earning from their Reels, live, or VOD videos.
Monetizing Reels: Additionally, the company is opening up the Reels Play Bonus program to more creators on Facebook, which will let creators cross-post their Instagram Reels to Facebook and monetise them there too.
Creator Marketplace: The Meta CEO said that the company has started testing a set place on Instagram where creators can get discovered and paid, and where brands can share new partnership opportunities.
Digital Collectibles: Lastly, Zuckerberg said that the company is expanding support for display NFTs on Instagram to more creators. “We’ll bring this feature to Facebook soon too — starting with a small group of US creators — so people can cross-post on Instagram and Facebook,” Zuckerberg wrote in a post adding, “We’ll also test NFTs in Instagram Stories with SparkAR soon.”