To encourage TikTok users with large followings to use a novel rival offering, Instagram has reportedly extended monetary incentives. Instagram had put generous deals before renowned TikTok creators to harness Reels, The Wall Street Journal reported, citing unnamed sources.
The platform has “approached a diverse range of creators about Reels in several of the countries where it’s currently being tested,” said Sarissa Thrower, a representative for Instagram. “We remain committed to investing in both our creators and their experience.”
A number of active users on the TikTok platform have amassed sizable viewership. To access these followers, firms have provided funding to users to sport branded attire, utilize certain music and directly market items in their clips.
TikTok, for its part, had unveiled a fund of $200 million to help those who make content on its infrastructure “realize additional earnings that help reward the care and dedication they put into creatively connecting with an audience that’s inspired by their ideas.”
Reels, for its part, lets users distribute clips of a short length, which is a similar function to that of TikTok.
Facebook plans to launch Reels in a number of countries at a time when TikTok faces questions from the U.S. government over its use of user data. The platform will reportedly come to the U.S., as well as more than 50 countries over a period of weeks.
In late June, news surfaced that Facebook was increasing the stakes again in its effort to attract digital video personalities to its platform. The company said on June 29 that it was adding many incentives designed to assist those who make videos and publishers earn money on the platform.
Also, Burger King and TikTok were teaming to let individuals dance for their Whoppers per news in June. Those who dance on the social media platform can receive a Whopper at the heavily discounted price of $1 per news at the time.