Facebook is trying to woo content creators towards their platform by setting up a program to pay $1 billion to creators through the end of 2022. At least 50 million people around the world consider themselves content creators, and its one of the fastest-growing segments of small business according to a report by the venture capital firm SignalFire. Mark Zuckerberg, Facebook’s CEO is trying to woo influencers away from TikTok and onto Facebook with Facebook for Creators.
How Does Facebook for Creators Work?
The $1 billion will be allocated among creators of all types, giving influencers an incentive to create and post original content on Facebook.
Influencers will be able to earn money by using specific Facebook and Instagram features or by hitting certain milestones.
If creators livestream on a regular basis, for instance, they can earn cash.
TikTok and YouTube have deep relationships in the creator community by helping creators earn money and by building features to serve their needs.
Under Facebook’s new program, which by the way, is invitation only as of now, eligible creators will see alerts encouraging them to join the effort when they open the app.
Facebook for Creators said it plans to create a dedicated place for creators to track their bonuses on Instagram and Facebook by the end of 2021.
This isn’t the first time Facebook has given money to creators in exchange for using its products. The company previously paid TikTok influencers and YouTubers to use features of Instagram like IGTV, a long form video feature similar to YouTube and Reels, a feature that functions similarly to TikTok.
In order to pry creators away from TikTok, direct payments are become an increasingly common practice.
In November, Snapchat gave away $1 million a day to content creators who posted to the app’s Spotlight feature. Those payments unfortunately have recently dried up, allowing Facebook’s bonus program to become more enticing.
In mid July, the mobile insights firm Sensor Tower said TikTok was the most-downloaded app globally in the first half of 2021.
TikTok also surpassed 3 billion installations globally, according to SensorTower, making it the first non-Facebook app to exceed that figure.
Want to learn how to become one of the many successful content creators online and make a living from home or anywhere in the world?
Get my popular course today.