- Mark Zuckerberg announced that Facebook would pay $1 billion to users of its Facebook and Instagram social networks from now until 2022.
- Facebook plans to roll out new bonus programs by the end of the year that reward creators for reaching specific milestones, the company said in a statement.
- This summer, Instagram and Facebook app creators will access dedicated spaces within their apps where they will learn more about rewards they can earn.
Facebook CEO Mark Zuckerberg on Wednesday declared the company plans to pay out $1 billion through 2022 to users who generate content for its Facebook and Instagram Social Platforms.
It’s one way the company expects to bring influencers to produce content for its Networks as it competes with other popular services, such as TikTok.
“We want to build the most desirable platforms for millions of creators to make a living, so we’re creating new plans to invest over $1 billion to reward originators for exceptional content they create on Facebook and Instagram through 2022,” Zuckerberg wrote on Facebook. “We haven’t been investing in creators for a long time, but I’m excited to expand this work.”
Facebook announced in a statement that it plans to roll out new bonus programs between now and the end of this year that will reward creators for achieving specific milestones as part of this initiative.
Among the upcoming bonus plans is a Reels Summer Bonus that will launch in the coming weeks and pay U.S. users who create magnificent Reels content for Instagram. Reels is a full-screen, short-length video feature that Instagram launched in 2020 to compete with content from TikTok.
The organization said it plans to launch dedicated spaces within its Instagram app this summer and the Facebook app this fall, where creators can learn about bonuses they can work toward.
Recently, Facebook has been rolling out new initiatives to pay out money to creators to attract more influential social media users.
In June, for example, the company announced that it would not take a cut of revenue generated by creators for paid online events, fan subscriptions, badges, and Facebook’s upcoming independent news product until at least 2023. And in April, the company announced several new programs for creators to make money through Instagram.