In a Facebook post on June 21, Zuckerberg said there would also be updates to “help creators build for the metaverse.” He added that he wanted platforms such as Facebook to play a role in the growing creator economy.
Zuckerberg shared six updates in his thread. The first was more revenue for creators. Social media platforms have halted revenue sharing on Instagram and Facebook until 2024. “That includes paid online events, Subscriptions, Badges, and Bulletin,” he added.
Prior to this, the promise to give more revenue creators only was valid for 2023. But, the chief executive has now extended it. In a June 2021 post, he said the company would take “less than the 30% that Apple and others take.”
Eligible Content Creators
Creators can use interoperable subscriptions to allow their subscribers on other platforms to access subscriber-only Facebook groups.
Additionally, the Facebook Stars section will be opened up to “all eligible creators,” enabling more people to earn from their Reels, live, or VOD videos.
Reels Play Bonus will be open to new creators, allowing them cross-post Instagram Reels on Facebook and monetize them.
To help creators get paid and discovered on Instagram, a Creator Marketplace has been created. Brands will also have the opportunity to share partnership opportunities.
The company is expanding its digital collections, which will allow more creators display and use NFTs via Instagram. He added that this feature will be coming to Facebook soon, “starting with a small group of US creators.” Eligible creators must meet specific requirements, so the new upgrades will not be available for everyone.
Instagram began testing NFTs in May through its Digital Collectibles section. Meta wants unique content to be added to the platform, as TikTok and other creator platforms like it grow in popularity. However, the firm’s grand Metaverse plans have attracted scrutiny from whistleblowers.
Fake Facebook Reviews Crackdown
Facebook is saturated with fake news and other spurious content. The company has taken steps towards reducing it. It announced that it had launched a new Community Feedback Policy for the US on June 20 to allow users to share their opinions and provide feedback. It stated that the firm was targeting advertising businesses who use the platform.
“Businesses must now comply with our Community Feedback Policy, which specifically prohibits manipulation of reviews, incentivization, irrelevance, graphic content, and spam.”