Facebook CEO Mark Zuckerberg on Wednesday announced the company plans to pay out $1 billion through 2022 to users who create content for its and Instagram social networks. It’s one way the company hopes to attract influencers to create content for its platforms as it competes with other popular services, such as TikTok
Zuckerberg wrote on Facebook that the company want to build the best platforms for millions of creators to make a living. So they are creating new programs to invest over $1 billion to reward creators for the great content they create on and Instagram through 2022. Investing in creators isn’t new for us, but I’m excited to expand this work overtime.
The company said in a statement that as part of this initiative, they plan to roll out new bonus programs between now and the end of the year that will pay out creators for hitting specific milestones.Among the upcoming bonus programs is a Reels Summer Bonus that will launch in the coming weeks and pay U.S. users who create great Reels content for Instagram. Reels is a full-screen, short-length video feature that was launched by Instagram in 2020 to compete with content from TikTok.
The company said it plans to launch dedicated spaces within its Instagram app this summer and the app this fall where creators can go to learn about bonuses that they can work toward. Over the past few months, the company has been rolling out new initiatives to pay out money to creators as a tactic to lure more influential social media users onto its services.In June, for example, the company announced that it would not take a cut of revenue generated by creators for paid online events, fan subscriptions, badges and Facebook upcoming independent news product until at least 2023. The company announced several new programs for creators to make money through Instagram.