(PatriotWise.com)- Facebook CEO Mark Zuckerberg said this week that starting late next year, Facebook plans to invest a billion dollars to pay content creators and influencers to use the company’s various social media platforms.
The $1 billion will be distributed among all types of creators, incentivizing influencers to create and post original content to Facebook. These influencers will be able to earn money by using certain Facebook and Instagram features or by hitting certain milestones.
It boils down to a cash for content operation. For example, if creators livestream on a regular basis, they can earn cash.
Over the past year, tech companies have been courting online content creators known to generate enormous engagement, hoping they bring young fans and cultural relevance to a platform. TikTok and YouTube have already been cultivating these kinds of relationships with content creators by helping these creators make money by designing features to serve their particular needs.
With Facebook’s new program, which is currently invitation-only, eligible content creators will receive alerts encouraging them to join the effort when they open an app on the platform. By the end of the year, Facebook hopes to create a dedicated space for creators to track their monetary bonuses on both Instagram and Facebook.
While this is the largest investment Facebook has made to lure content creators, it isn’t the first. Previously, Facebook paid both TikTok influencers and YouTubers to use features available on its platform Instagram. In December, Facebook pledged to invest ten million dollars over the next two years to boost creators in the “black gaming community.”
Offering direct payments has become an increasingly common way to try to lure creators away from TikTok. Late last year, Snapchat began giving away a million dollars a day to content creators who posted to Snapchat’s Spotlight feature. But those payments have stopped which makes Facebook’s pending bonus program all the more enticing.
There are at least fifty million people globally who consider themselves content creators. In fact, it is one of the fastest-growing sectors of small business today. A large segment of these content creators currently use TikTok. During the first half of 2021, TikTok became the most-downloaded app in the world.