Facebook ramps up TikTok battle by letting creators monetize their Stories
- Facebook has announced a new monetization program for creators. Facebook Content Monetization is meant to lure creators from TikTok as the company looks to build out its flagship social media property.
With the threat of a TikTok ban fading for now, Facebook is ramping up efforts to get creators to post their work on its platform.
The company has announced a new monetization program that will let creators make money simply by sharing photos and videos on the Facebook site. (Instagram has its own monetization program.)
Applications are being accepted at this website for the program’s beta. And at least one member of that beta program claims to have made $5,000 so far posting videos he would have normally posted without financial incentives.
Facebook has already sent invitations to one million creators to join the beta program, but is looking to expand it. Earnings will be based on engagement, total views, and plays. Public videos, reels, photos, and text posts are eligible to earn money.
Facebook has, for months, been trying to win the attention of creators. While Instagram has a healthy creator community, Meta’s flagship property has had trouble attracting them. In January, the company offered a $5,000 bonus to creators with an existing presence on other social platforms. TikTok remains the most popular destination for creators, but the lingering threat of that platform disappearing has made several of them diversify their outlets.
Over the course of the next year, the new Facebook Content Monetization program will replace Ads on Reels, In-Stream Ads and the Performance bonus programs. As part of the change, the company is streamlining its dashboard for creators to make it easier to see how their monetization efforts are going.
This story was originally featured on Fortune.com