There have been a couple of articles recently suggesting that Facebook may be struggling to woo creators against competition from Snapchat and TikTok. What better way to solve such a problem than by throwing money at it?
“We want to build the best platforms for millions of creators to make a living, so we’re creating new programs to invest over $1 billion to reward creators for great content they create on Facebook and Instagram through 2022,” announced CEO Mark Zuckerberg yesterday.
Facebook’s blog post has more on the plans. “This investment will include new bonus programs that pay eligible creators for hitting certain milestones when they use our creative and monetization tools. We’ll also provide seed funding for creators to produce their content.” The first bonuses have launched already on Facebook and Instagram, although we’ll be keen to see if musicians are included among the eligible creators to use them, as sometimes in the past there has been a gap before they get features initially launched for other kinds of creators.