ANI
22 Jun 2022, 17:37 GMT+10
Washington [US], June 22 (ANI): Meta CEO Mark Zuckerberg has announced that the company will "hold off on any revenue sharing on Facebook and Instagram until 2024," a year later than originally planned.
Under this move, Instagram and Facebook will take a commission from offerings like fan subscriptions, paid events, badges and the company's newsletter platform and Substack competitor Bulletin, where creators currently get to keep the entirety of their revenue from those platforms, The Hollywood Reporter reported.
The executive also said Instagram and Facebook will expand its Reels bonus program to more creators and allow them to monetize their short-form videos across both platforms.
According to The Verge, Stars, a tipping method on Facebook, will also be available to all eligible creators. (Facebook does impose a tax when fans purchase Stars: creators get a penny for each Star they receive, but fans typically purchase them for more.)The company is also testing out a "creator marketplace that will allow brands and creators to interact for sponsorships and other business opportunities -- a service that takes a page directly from TikTok, which offers its own marketplace for marketers and creators.""We're heading towards a future where more people can do creative work they enjoy, and I want platforms like ours to play a role in making that happen," Zuckerberg wrote in a Tuesday Facebook post announcing the updates for creators.
Meta is also expanding its support for NFTs on Instagram, which it began testing on Instagram profiles last month. (ANI)
Get a daily dose of Business Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Business Sun.
More InformationNEW YORK, New York - A relief rally hit Wall Street Friday as lawmakers made some progress on the debt ...
NEW YORK, New York - U.S. stocks continued to lose ground Wednesday as the top politicians in the country again ...
NEW YORK, New York - U.S. stocks were under pressure Tuesday as money markets roiled over the failure of lawmakers ...
TOKYO, Japan: Data released this week showed that in the quarter through March, Japan's economy grew at a rate of ...
New Delhi [India], May 27 (ANI): Delhi Lieutenant Governor VK Saxena on Saturday visited the 187-year-old heritage St James' Church ...
New Delhi [India], May 27 (ANI): In two weeks, markets witnessed a consolidation phase and experts said this momentum is ...
Representative Mike Gallagher, chair of the U.S. House of Representatives committee on China, says that after Beijing banned the sale ...
SAN FRANCISCO, California: US semiconductor toolmaker Applied Materials Inc has said it plans to spend up to $4 billion on ...
BEIJING, China: Amid its feud with Washington over technology and security, the Chinese government told manufacturers of computer equipment to ...
Washington [US], May 27 (ANI): State-sponsored Chinese hackers have infiltrated critical US infrastructure networks, said the United States, its Western ...
BEIJING - China and South Korea have agreed to strengthen dialog and cooperation on semiconductor industry supply chains, amid broader ...
Washington [US], May 27 (ANI): Chinese President Xi Jinping's new anti-spy law -- which is set to take effect on ...