Instagram To Add More Ways For Creators To Monetize

Facebook CEO Mark Zuckerberg has announced that there will be more options for Instagram creators to earn revenue, including a marketplace for matching brands with creators whose content fits the market they’re aiming for, CNBC reported.

Many social media creators already get paid for sponsored content. The goal of the new marketplace is to let Instagram have a more robust role in matching budding creators with brands, according to Adam Mosseri, head of Facebook-owned Instagram, per CNBC.

“We should be able to help brands find creators that are uniquely aligned with the work they’re trying to do and vice versa,” Mosseri said on an Instagram Live broadcast with Zuckerberg, CNBC reported.

In addition, there will likely be new creator shops, according to CNBC, which will let creators sell items to Instagram users directly through their profiles.

Neither Zuckerberg nor Mosseri shared when the new features will launch, CNBC reported.

The company has innovated on ideas like these before. Last year, it introduced Facebook Shops and Instagram Shops as ways for more commerce to be integrated with the services, according to CNBC.

“That’s been especially important in the last year,” Zuckerberg said on the Instagram Live with Mosseri, per CNBC. “A lot of physical stores have had to close during lockdowns, but online stays open. It can be a more personalized and convenient experience.”

Facebook has also been trying to entice video creators to stay with the service, as competition from services like TikTok became more popular during the quarantine.

Last summer, Facebook announced several “sweeteners” intended to make the deal better for creators, including fan subscriptions so that popular creators can charge monthly fees, and a “Stars” program expansion making it an option to send “stars” worth around a penny each to creators during a livestream, PYMNTS reported.

Also in 2020, Instagram announced new features like shopping added to IGTV, its standalone video for smartphones, and Reels, its area for short-form videos.