Facebook is setting up a program to pay $ 1 billion to creators by the end of 2022, Facebook CEO Mark Zuckerberg said on Wednesday. Part of an effort to target influencers on his platforms.
The $ 1 billion will be shared among creators of all kinds to encourage influencers to create original content and post it on Facebook, the social network said. Influencers can make money by using certain Facebook and Instagram features or by reaching certain milestones. For example, if a creator regularly livestreams they can make money.
Last year one arms race emerged among tech companies looking to woo online content creators who can generate tremendous engagement and bring their young fans and cultural relevance to one platform. TikTok and YouTube have cultivated deep relationships in the creator community by helping creators make money and developing features that suit their needs.
As part of the new Facebook program, which is initially only possible by invitation, authorized YouTubers will be prompted by warnings when opening the app to join the initiative. Facebook plans to create a special place for YouTubers to track their bonuses on Instagram and Facebook by the end of the year.
This is not the first time Facebook has given developers money to use their products. The company has previously paid TikTok influencers and YouTubers use Instagram features like IGTV, a long-form video feature similar to YouTube, and Reels, a feature similar to TikTok. In December, Facebook has pledged to invest $ 10 million in the black gaming community for the next two years and offers some developers guaranteed monthly payments for the use of Facebook Gaming, a streaming platform similar to Twitch.
Direct payments are increasingly used to distract YouTubers from TikTok. In November, Snapchat started giving away $ 1 million a day To content creators who have posted to the app’s “Spotlight” feature, which works similarly to TikTok. These payments have dried up recently, making Facebook’s loyalty program potentially enticing.
At least 50 million people around the world now consider themselves content creators, and it’s one of the fastest growing segments of small businesses, according to a report from the venture capital firm Signal fire.
On Wednesday, mobile insights company Sensor tower said TikTok was the most downloaded app in the world in the first half of 2021. TikTok has also surpassed 3 billion installations worldwide, according to SensorTower, making it the first non-Facebook app to surpass that number.