Meta, which previously postponed revenue sharing until 2023, has extended this delay to 2024 and announced that creators on Facebook and Instagram will not have to share a cut of their revenue with the platforms 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,” said Mark Zuckerberg in a post announcing new ways for creators to make money on Facebook and Instagram.
Zuckerberg also announced that the company is opening Facebook Stars up to all eligible creators so more people can start earning from their Reels, live, or VOD videos. The company is also opening up the Reels Play Bonus program to more creators on Facebook “soon” and letting creators cross-post their Instagram Reels to Facebook and monetize them there too.
In May, Instagram began testing NFTs with select creators and collectors in the US. Zuckerberg announced that the company is expanding the test so more creators worldwide can display their NFTs on Instagram. “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. We’ll also test NFTs in Instagram Stories with SparkAR soon,” he said.
Meta is also testing a set place on Instagram where creators can get discovered and paid, and where brands can share new partnership opportunities.