Meta CEO Mark Zuckerberg revealed that the business is expanding some of its current monetization tools for creators. He is creating more opportunities for creators to generate money on Facebook and Instagram. The announcement by Mark Zuckerberg that Meta will not take commissions from influencers and creators until 2024. Earlier, it was scheduled for 2023, but he updated it later.

He also stated that to funnel more money to creators, Meta will maintain paid online events, fan subscriptions, badges, and its planned independent news products for free for creators.

This significant action by Meta will put more money into the pockets of creators.

“We’re heading towards a future where more people can do creative work they enjoy, and I want platforms like ours to play a role in making that happen,” Zuckerberg wrote.

Here’s what creators should expect on Facebook and Instagram:

Interoperable Subscriptions:

It allows creators to grant access to subscriber-only Facebook Groups to their paying subscribers on other platforms.

Use of monetization tools is free till 2024:

Rather than charging creators to use Facebook’s paid online events, subscriptions, badges, and bulletin items, these tools will stay free until 2024, allowing creators to keep all cash earned.

Making Money With Reels:

Facebook is introducing the Reels Play Bonus program and allowing creators to submit their Instagram Reels on Facebook.

A Marketplace for Creators:

Meta is experimenting with a dedicated Instagram account where creators can be discovered and compensated for their work, and marketers can discuss new partnership prospects.

NFTs:

As long suspected, it appears that NFTs will be available on both Instagram and Facebook. Zuckerberg states that the Meta-owned platforms will begin to allow account holders and creators to show and cross-post NFTs in feeds and Instagram Stories, beginning with a select group of creators in the United States.

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