Facebook recently announced that by the end of 2022, the social media platform plans to invest over $1 billion in various programs that offer creators new ways to earn money for the content they create on either Facebook and Instagram. The program includes bonuses for in-stream, stars, IGTV, and reels, among others. Facebook is taking a transparent approach to the new monetary funding that focuses on authenticity, attainability, and actionability.
Many speculate that the creator funding move was motivated by the competitive social media landscape, with many viewers leaving the platforms for other content-sharing sites like TikTok. By incentivizing well-known creators to post on its platform instead of others, Facebook hopes to retain more viewers.
Image Credit: Isaias Hernandez, @QueerBrownVegan, Facebook