Facebook is investing $1 billion for creators. By the end of 2022, the company is ready to distribute the said sum to creators who want to monetize their platforms. This bonus program applies to both Instagram and Facebook.
The initiative encourages artists, entertainers and other content creators to create more and better content to serve their communities. The bonus program would involve several tools like Live Audio Rooms and Bulletin.
The $1 billion budget allocation includes programs where the creators must hit milestones by using the creative tools of the Facebook platform.
What is the bonus?
In casinos, you get things like bonuses of Vulkan Vegas if you play or deposit funds. On Facebook, you get rewards for sharing great content. The bonus program will also help creators understand which of their content resonates the most with their audience.
The bonus program is seasonal and will evolve. Some of these bonus programs are already rolled out to some creators. As of now, it is invitation-based only. Some examples of these are the Badges and Stars Challenges.
Badges and Stars
Badges are found on Instagram Live, while Stars are found on Facebook. It is a way by which the creator can earn money from their supporters. Supporters could buy badges during an Instagram Livestream. Once the creator hits a milestone, he will get a share of that money that came from the sale of these badges and stars.
These are earnings that come from ad revenues. The bonus is for video creators only, and it will come from the revenue of in-stream ads. These ads are the ones that show up while a video is playing, similar to how it is happening on the YouTube platform.
This bonus refers to stars that the content creator earned, including those that are in the gaming industry. The participants have a chance to earn monthly bonuses if they hit specific milestones.
Another bonus that people are anticipating is called the Reels Summer Bonus. It is exclusive to creators in the US. Facebook will pay the creators if they produce great content on Instagram. A creator can only be eligible if he uses the Reel program.
Reels is a program on Instagram where people create short videos about real things that happen in life. What this means is that documentaries are not included. Reels are short clips showing people having fun.
What is the Streamer Fan Group?
The Streamer Fan Group is a subset of content creators focused on gaming. The new format will be rolled out in phases to help serve the gaming market.
Here, gamers will have access to chat rooms where they can communicate with fans. These chat rooms will use hashtags for identification and will allow both streamers and the community to find what they are looking for.
In the future, Facebook will launch the functionality where creators can play with other gamers in the same group.
In this setup, a game streamer is not just randomly streaming his game live. He can choose which group he wants to stream his games to. As such, traffic and audience are not going to be an issue because there is already an existing fanbase for that specific game or genre of game content.
There is no clear plan yet for how Facebook is going to reward the gamers, but this is a significant step to competing against a giant like Twitch.
Why is Facebook doing this?
For a long time, Facebook capitalized on its dominance as a social media platform. It earned revenue from ads that they streamed in feeds and Instagram videos.
However, as more and more creators are shifting to YouTube, Facebook has to acknowledge that content creation is no longer a hobby but rather a business.
As such, many creators today yearn to earn from their content. To be able to do this, they have to evolve and use videos. Once the creator has mustered the courage to do this, he is going to publish it on YouTube. Some people who are into gaming can stream their games from VulkanVegas casino live or recorded. From here, the creator would meet YouTube’s monetization requirements and then finally earn money from the ad revenue.
Facebook recognized this changing landscape. They must have realized that content creators are gearing away from their platforms and shifting to Twitch and YouTube. They needed to do something.
Facebook is ready to compete with YouTube and will reward content creators that produce valuable content. This bonus system is a way for Facebook to retain content creators on its platform. As such, the content creator would also be able to retain traffic on both Facebook and Instagram.
From here, Facebook can run ads and earn revenue from these ads. It is from this revenue that Facebook would get money to share with its content creators.
The thing with the Facebook bonus program is that it is not a direct share of the advertising revenue. The bonus program will change according to the season, and creators will have to meet milestone upon milestone.