Facebook to invest more than $1 billion to reward creators

·3 min read

Facebook will invest more than $1 billion in its content creators through next year, the company announced this week.

The social media platform will dedicate the large sum to "reward creators for great content they create on Facebook and Instagram through 2022," CEO Mark Zuckerberg wrote on Facebook on Wednesday.

"Investing in creators isn't new for us, but I'm excited to expand this work over time. More details soon," he said.

"From artists to style experts and budding entertainers, creators drive so much of the passion and creativity we see across our apps. ... This investment will include new bonus programs that pay eligible creators for hitting certain milestones when they use our creative and monetization tools. We'll also provide seed funding for creators to produce their content," Facebook, which has a market cap of just under $1 trillion, wrote in a post expanding on Zuckerberg's announcement. "Our goal is to help as many creators as possible find sustainable, long-term success on our apps."

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The new rollout will include seasonal bonus programs designed to "reward a wide variety of creators for sharing great content that people enjoy," which include a one-time bonus for Instagram influencers who sign up for IGTV ads, rewards for creators when they meet certain milestones with badges, and a Reels summer bonus dependent on how well creators' reels perform.

"We plan to roll out more bonus programs between now and the end of the year," the company added.

Facebook isn't the only social media platform aiming to promote user engagement with paid content. In February, Twitter rolled out two features designed to increase user engagement with paid content via the advent of "Super Followers" and group users into "Communities" (or groups centering on shared interests).

"This year, we're making it easier for you to discover, participate, and form conversations with communities that share your interests. People already use Twitter to create community across a wide range of topics, and this work builds on these existing conversations. Protecting the health and safety of the conversation within these communities is top of mind to us," a spokeswoman for Twitter told the Washington Examiner. "We're looking at customization options including ways to set and enforce norms for communities, beyond the Twitter Rules."

The concept of social media "influencers," or people whose social media accounts tend to influence the behavior of their online followers, has attracted increased attention in recent days as President Joe Biden unrolls the White House's planned outreach to young, unvaccinated people throughout the United States. After the White House projected in late June that the president would fall short of his Fourth of July vaccination goal, largely due to lower-than-expected vaccination rates among the nation's younger population, Biden unveiled a plan to reach this target population via social media influencers.

On Wednesday, actress and singer Olivia Rodrigo, 18, visited the White House as part of the appeal to young people. The teenage pop star filmed a video promoting the safety and efficacy of COVID-19 vaccines and appeared in a joint press conference with White House press secretary Jen Psaki, who has previously spoken about the administration's efforts to target young, unvaccinated people.

"Let me give you a couple of examples of what we’re working on. It's not just Dr. Fauci on TikTok, though that is happening. So, Dr. Fauci has done several Q&As with TikTok and Instagram influencers to answer questions, to meet people where they are, including young people, give them information they need," Psaki said last month. "CDC's COVID Vaccine Chat on WhatsApp is now live to help Spanish-speaking young adults get vaccinated."

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While 58.9% of the adult U.S. population is fully vaccinated, just 48.1% of the nation's total population is fully vaccinated against COVID-19, according to the Centers for Disease Control and Prevention.

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Tags: News, Facebook, Technology, Mark Zuckerberg, Business, Social Media

Original Author: Carly Roman

Original Location: Facebook to invest more than $1 billion to reward creators

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