Facebook is paying content creators and trying to woo content creators towards their platform and away from TikTok. They’ve set 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 it’s 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 December, Facebook pledged to invest $10 million over the two years in the Black Gaming community offering creators monthly payments using Facebook Gaming, a streaming platform similar to Twitch.
How to Get Paid to Be a Creator
In order to pry creators away from TikTok, direct payments fromFacebook 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.
On TikTok, influencers can monetize their views through the app’s Creator’s Fund. Members of the fund must have at least 10,000 followers and views within 30 days of applying. Through the program, influencers generate about 2-4 cents per 1,000 views, according to the media site Tubefilter. Most TikTokers with enough views or followers to generate paying opportunities make a majority of their money off brand deals, which generate between $200 to $20,000, Tubefilter reports.
Facebook’s ad campaigns generate an average of $8.75 per 1,000 views, according to the Social Media Examiner. Tubefilter found Facebook creator revenue fluctuated in 2020, with some influencers generating millions of dollars off the site, while others with millions of views received little to no pay out.
Previously, Facebook’s monetization program catered to videos that had to be at least three minutes long and was invite only for live in-stream ads. The latest update will expand the number of users who will be able to make money off their videos on Facebook.
To qualify, a Facebook user’s page must have at least 10,000 followers and 600,000 overall minutes worth of views within the past two months, as well as at least 5 uploaded or live video streams.
Creators can check their eligibility for the expanded program on Facebook’s Creator Studio page.
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