Meta Will Not Take Commission From Creators Until 2024
Meta CEO Mark Zuckerberg has said that the company will “hold off on any revenue sharing” until 2024, a one-year extension of his prior pledge to not charge a commission until 2023.
According to Engadget, creators on Instagram and Facebook will have another year to make money from the apps without Meta taking a cut from their earnings.
The move will cover monetization features where creators directly charge their fans — paid online events, subscriptions, newsletters, and badges sold during live streams, reports Engadget.
It does not apply to Meta’s advertising-related revenue sharing features for Reels or other video products, the report said.
The CEO also announced several other monetization updates for creators on the platform.
The company is expanding Stars, the company’s in-app tipping feature, to more creators, and will open up its bonus program for Reels to more users as well.
Meta is also expanding its support for NFTs on Instagram, which it began testing on Instagram profiles last month. Now, the feature will be available to more people, though Meta declined to specify exactly how many will now have access.
The company also plans to integrate NFTs into Facebook and Instagram Stories “soon,” the report said.