Facebook has unveiled a series of product updates to provide creators with new ways to make money on the platform and incentivise consumers to support their businesses.
With live experiences limited over the past year, artists, creators and cultural institutions around the world have transformed the way they engage with their audiences. Social media has played a major supporting role and Facebook has helped creators pivot to digital-first productions as a way to generate an income.
The video platform Facebook Watch alone receives 1.25 billion visitors each month and creators are able to directly make money from their content via sponsored content and In-stream ads.
From 2019 to 2020, Facebook saw In-stream ad payouts grow over 55%, with the number of content creators earning the equivalent of $10,000 USD per month growing 90% and creators earning $1,000 per month growing 100% — with video partners of all sizes earning meaningful revenue.
The updates announced include:
- Facebook’s online events tool will expand to several new EMEA countries, including Austria, Denmark, Egypt, Ireland, Morocco, Portugal, South Africa, Switzerland, Turkey and United Arab Emirates;
- Widening the criteria for In Stream Ads, meaning more creators can now use in-stream ads to monetise their video content;
- Opening up In Stream Ads in Live videos to creators with 120,000 ‘is Live’ or ‘was Live’ minutes viewed in the last 60 days;
- Facebook continues to experiment with ad formats and is working with creators to try out Sticker ads in Stories.
In a blog post, Yoav Arnstein, Director of Facebook App Monetization, wrote: “Content creators — digipubs, video creators, gaming creators, media companies, cultural institutions, businesses of all sizes and more — build vibrant communities on Facebook. We want them to have the tools and support they need to earn money and thrive, whether creating and sharing content is a primary business, one of many revenue streams, or a lifeline that’s kept their business afloat during the pandemic.
“Content creators can earn money from ads via our in-stream ads program, from the support of their fans via fan subscriptions and paid online events, through our Stars feature and with paid partnerships via branded content and brand collabs manager. This means that all types of content creators can choose the mix of products that best matches the community they’ve built and the content they share.”
To learn more about Facebook’s latest offerings and for tips, best practices and to check eligibility for all products, visit Creator Studio.