Every social network and online video service is big on ‘creator monetisation’ whether that’s through tips economies, subscriptions or grant funds.
There’s news today on two of the most high-profile examples. First, Meta has revealed that there are now “more than 1m active subscriptions to creators through Instagram subscriptions”.
This is the feature that originally launched in the US in mid-2022, before rolling out to more countries this year. A million subscriptions is a small drop in Instagram’s ocean of 2bn+ users, but Meta clearly thought the milestone worthy of announcing.
That came as part of a longer blog post on new features for creators on Instagram and Facebook, including holiday bonuses and an expansion of Instagram’s gifts feature.
The second story today concerns TikTok, which according to The Verge is closing its $1bn creator fund on 16 December in the US, UK, Germany and France.
The report said that the news was communicated to users, although TikTok has yet to comment publicly.
This end date was part of the plan: back in 2020 TikTok committed $1bn over the next three years, so that time is now up.
The creator fund’s successor is already here: a ‘Creativity Program Beta’ announced in February this year.