Facebook CEO Mark Zuckerberg announced on Wednesday that the social media company will pay out more than $1 billion USD to creators on both Facebook and Instagram through the end of 2022.
Zuckerberg revealed the initiative in a Facebook post, writing, “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. Investing in creators isn’t new for us, but I’m excited to expand this work over time.”
In tandem with the initiative, Facebook plans to release bonus programs between now and the end of the year that will reward creators for hitting given milestones, according to a release. The platform’s first pay-out activation, Reels Summer Bonus, will launch in the U.S. in the coming weeks and pay “creators for creating great Reels content on Instagram.”
The bonuses are currently available to creators on an invitation-only basis, though the company indicated it would expand the platform to more creators later this year with the launch of a dedicated landing page for bonuses. There, creators will be able to learn about bonus opportunities, which will be integrated on Instagram’s app this summer and on Facebook’s app this fall.
Last month, Zuckerberg announced that Facebook will not take a cut of revenue from creators who use its profit-generating features until 2023.
“To help more creators make a living on our platforms, we’re going to keep paid online events, fan subscriptions, badges, and our upcoming independent news products free for creators until 2023,” he wrote. “And when we do introduce a revenue share, it will be less than the 30% that Apple and others take.”
Elsewhere on the platform, Facebook Groups can now designate experts to host Q&A sessions.
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