Mark Zuckerberg, Facebook’s chief executive, said on Wednesday Facebook is setting up a program that pays creators $1 billion through the end of 2022, part of an effort to attract influencers. on its platform.
The social network says $1 billion will be allocated to creators of all types, motivating influencers to create and post original content on Facebook. Influencers can earn money using specific Facebook and Instagram features or by reaching certain milestones. For example, if creators go live regularly, they can earn money.
Over the past year, an arms race has emerged between tech companies looking to entice online content creators who can generate massive engagement and bring young fans into the fold. as their cultural fit to a background. TikTok and YouTube have built deep relationships in the creator community by helping creators earn money and by building features to serve their needs.
Under Facebook’s new program, which is currently invitation-only, eligible creators will see alerts encouraging them to join the effort when they open the app. Facebook says it plans to create a dedicated place for creators to track their bounty on Instagram and Facebook later this year.
This isn’t the first time Facebook has given money to creators in exchange for using its products. The company previously paid TikTok influencers and YouTube users to use Instagram features like IGTV, a long-video feature similar to YouTube, and Reels, a feature that works similarly to YouTube. TikTok. In December, Facebook pledged to invest $10 million over the next two years in the Black gaming community, providing some creators with guaranteed monthly payments to use Facebook Gaming, a platform streaming similar to Twitch.
Direct payments are becoming an increasingly popular way to try to lure creators away from TikTok. In November, Snapchat started giving away $1 million a day to content creators who post to the app’s “Spotlight” feature, which works similarly to TikTok. Those payouts have recently dried up, making Facebook’s bounty program potentially appealing.
According to a report by venture capital firm SignalFire, at least 50 million people around the world consider themselves content creators, and this is one of the fastest growing segments of small business.
On Wednesday, mobile insights company Sensor Tower said TikTok was the most downloaded app globally in the first half of 2021. TikTok has also surpassed 3 billion installs globally. , SensorTower said, becoming the first non-Facebook app to surpass that number.