Facebook CEO Mark Zuckerberg announced the launch of new plans to pay $1 billion to users creating content for his platforms, Facebook and Instagram, by 2022.
“We want to create the best platforms for millions of YouTubers to earn a living. So we are creating new programs to invest over a billion dollars to reward creators for the exceptional content they create on Facebook and Instagram by ‘2022,’” Zuckerberg wrote on Facebook.
“Investing in Creators is nothing new for us, but I hope to expand this work over time.”
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With incentives like this, Facebook hopes to attract more content creators to give popular China-based video-sharing app TikTok a hard time.
The investment includes new loyalty programs that reward eligible YouTubers for achieving certain milestones when using the company’s creation and monetization tools.
“We will also provide seed funding for YouTubers to produce their content. Our goal is to help as many YouTube users as possible achieve lasting, long-term success with our apps,” said a statement from Facebook.
The tech company also plans to launch new loyalty programs this year that reward creators for achieving certain milestones.
Upcoming loyalty programs include a Reel Summer Bonus, which will launch in the coming weeks and will pay American users who create great reel content for Instagram.
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Instagram Reels is a short-lived full-screen video feature introduced by Instagram last year to compete with TikTok.
“We will launch our own bonuses section on the Instagram app this summer and on the Facebook app this fall, where YouTube users can find out what bonuses are available to them,” he added.
