Meta has introduced new tools to help creators on its platforms generate revenue.
Among these offerings, announced Monday (Nov. 6) is a test of an invite-only holiday bonus for Instagram creators in the United States, South Korea and Japan.
“The holiday bonus will reward creators for sharing their creativity through reels and photos (both single image posts and carousels),” the company said on its blog.
Meta will invite select creators to test the bonus until the year’s end, letting them earn income based on the number of reel plays and photo views they receive during the bonus period (assuming the content passes the company’s content monetization policies).
In addition, Meta is updating its subscriptions for both Facebook and Instagram creators.
The blog entry notes that there are now more than 1 million active subscriptions to Instagram creators, with Meta recently adding subscriptions in 35 new countries.
“To help creators grow their subscriber communities, we have introduced new promotional tools, like surfacing the Subscribe button when your followers see your content in Feed, and making it easier for you to welcome new subscribers via DMs and Stories,” the announcement said.
For creators on Facebook, Meta says it is adding new ways for followers to subscribe, such as through Reels and Stories on Facebook. The company is also offering creators the ability to give fans free 30-day subscription trials, and letting creators change the price of their subscriptions over time.
PYMNTS looked at the creator economy earlier this year in a conversation with Marie-Elise Droga, head of Fintech at Visa, who argues that social media stars could be the digital equivalent of tomorrow’s small and midsized business (SMB) segment.
“Creators are generally underserved today in their financial lives,” Droga told PYMNTS CEO Karen Webster. “They can’t be looked at through the lens of an individual consumer — this is the fastest growing category of SMBs in the world.”
She added that it’s an opportunity that anybody can afford to ignore, as social commerce is a $1 trillion market, with its creators representing one of the most valuable business owner segments for financial services providers wise enough to tap into their needs.
Meta’s new offerings follow last week’s announcement of several new features designed to help creators improve their content performance. These updates include a new Reels A/B testing tool, which lets creators test different captions and thumbnails for their Reels content on their mobile devices and get insights into which variants resonate best with their audience.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More