Meta’s adding some new creator monetization options, including new metaverse and Web3-aligned options, as it looks to build the next platform for creative expression and engagement, and ensure that it keeps its top stars posting to its apps into the future.
First off, Meta’s testing a new Creator Marketplace on Instagram, where creators will be able to get discovered by brands for potential partnership opportunities.
As you can see in the first screenshot above, the new Creator Marketplace will enable creators to list their interests and the types of content that they want to create, which will then help brands find potential matches for their campaigns.
Meta also has its Brand Collabs Manager, which essentially facilitates the same, but this new process will be more Instagram-specific, providing another avenue for IG creators to connect with opportunities.
Meta’s also expanding its Reels Play Bonus program to more creators on Facebook, which will also soon enable creators to cross-post their Instagram Reels to Facebook and monetize them within both apps.
Meta launched its Reels Play Bonus program in September last year as part of a broader push to provide more incentive to top creators to continue posting their Reels in the app. And given that Reels is now its fastest-growing content type, it makes sense to lean into this where it can, in an effort to stop its top stars from drifting to TikTok and YouTube instead.
On a similar note, Meta’s also expanding its Facebook Stars creator donation process to all eligible creators ‘so that more people can start earning from their Reels, live, or VOD videos’.
Facebook Stars are essentially a virtual currency that can be purchased in various bundles, which then enables Facebook users to allocate them to creators via live-streams (audio and video).
Up till now, in order to be eligible to receive stars, users have had to manage a Gaming Video Creator Page, have more than 100 followers and stream game content on at least 2 days, for at least 4 cumulative hours, in one consecutive 14 day period.
But more recently, Meta has also begun expanding Stars to Reels as well, which will eventually open up more opportunities for more creators to earn through the program.
Stars are available in most regions, though there are some restrictions.
Meta’s also adding ‘interoperable subscriptions’, which will enable creators to give their paying subscribers on other platforms access to subscriber-only Facebook Groups (you can see an example of this in the third image above).
And then there are NFTs, and Meta’s initial moves on digital collectibles.
After launching an initial test of NFT display options on Instagram back in May, Meta is now expanding the test pool for the option, while it’s also planning to bring NFT display to Facebook as well, ‘starting with a small group of US creators’.
NFTs remain a questionable element, with some viewing them as the future of digital collaboration and community, and others seeing them as a get rich scheme, with limited value. I’m not sure that the current NFT profile pictures will remain a thing in the next stage, but the market for digital assets is definitely set to increase, in the form of avatar clothing, in-game items, virtual objects, etc.
But, with NFT NYC being held this week, it’s clear that interest remains in digital profile images, which could see it become an enduring trend.
Finally, Meta also notes that it will hold off on implementing any revenue share processes on Facebook and Instagram until 2024, which means that creators will be able to claim 100% of any funds raised via Events, Subscriptions, Badges, and Facebook Bulletin.
These are some valuable additions, in a range of areas, and as competition for creative talent heats up, it’s important for Meta to keep evolving its offerings in-step, to ensure that it doesn’t lose out to TikTok and YouTube in this space.
Because Meta will need these creators to fuel its metaverse vision, and if it loses them now, they may not come back. That will be the next stage of its process, with more funding for Horizon Worlds creators and those working on VR elements.