Meta is rolling out new ways for creators to monetize on its platforms, Facebook and Instagram. The company is also launching updates to help them create content in the metaverse. Among the new money-making features are Facebook stars, creator marketplace, interoperable subscriptions, monetizing Reels and Digital collectibles
The company is shifting to a different kind of algorithm to help users develop new interests by surfacing content that they did not know that they wanted to see. This means the platforms need more interesting, original content.
According to Meta CEO Mark Zuckerberg, creators will be able to monetize directly from events, subscriptions, badges, and bulletins. He said the revenue-sharing program that is meant to make money for the Metaverse had been pushed to 2024.
Meta is also testing an Instagram page where creators can be discovered and paid, and brands can share partnership opportunities. In its quest to compete with TikTok, the company is planning to introduce a monetization program for Reels and for the display of non-fungible tokens.
Creators will be able to accept payments from fans on other platforms and grant them access to Facebook features via interoperable subscriptions. The CEO also introduced metrics that creators must meet in order to gain access to Facebook starts which gives eligible users certain privileges.
The company has started rolling out the features to users including those in Kenya.