Instagram, Facebook Delays Taking Creator Commissions to 2024 – The Hollywood Reporter

Instagram and Facebook will start taking a cut in creator revenue in 2024, a year later than originally planned, according to Meta CEO Mark Zuckerberg.

Both social platforms will take a commission on offers such as fan subscriptions, paid events, badges and the company’s newsletter platform and competitor newsletter Substack, where creators can currently keep the all of their revenue from these platforms. Although Meta hasn’t revealed what percentage of revenue it will ultimately pocket, Zuckerberg has previously said it will be less than 30%.

The executive also said that Instagram and Facebook would expand its Reels bonus program to more creators and allow them to monetize their short videos on both platforms. And on Instagram in particular, Zuckerberg said the company is testing 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.

Monetization updates for creators could help Instagram and Facebook curry favor with creators as the company faces fierce competition from rivals like TikTok and YouTube. The announcement also comes a day before Meta heads to VidCon — Anaheim’s premier four-day event for influencers — and is expected to heavily promote its Reels and VR offerings to attendees.

“We’re heading towards a future where more people can do creative work they love, and I want platforms like ours to play a part in making that happen,” Zuckerberg wrote in a Facebook post Tuesday announcing the updates for creators.

Leave a Comment