It looks like Facebook is really worried about the competition out there and is going all out to compete with the likes of Tik Tok, Instagram and YouTube.
Meta or Facebook recently announced in a blog post that it starting to test the ability to cross-post Reels and Stories from Instagram to Facebook, making it easier for creators to get their content out.
A separate test will allow ‘select creators’ to make money from Reels that include licensed musical tracks from the company’s audio library.
Help Creators
Meta says that the purpose of the updates is to help creators “earn steady streams of income on platform. But these changes are also targeted at boosting creator engagement as the platform struggles to keep younger users engaged and interested. These users gravitate more towards TikTok and Instagram.
The company is also expanding its bonus program that “checks notes” pays to creators for actually posting on Facebook.
“We’re also continuing to invite more creators to our Performance bonus program that rewards creators for garnering strong engagement with their content on Facebook. And we’re introducing extra bonuses so creators can earn more.”
The platform is also lowering its eligibility threshold for creators to earn money. Where before creators used to need at least 1,000 followers over 2 months in order to be eligible to monetize their profile. Now they only need 500 followers over 30 days.
Facebook Ads and Reels
“And finally in May we announced updates to our Ads on Reels that included a new payout model and expansion to more creators. Soon we’ll begin a limited test in which select realtors can monetize reels that include licensed music from the Facebook Audio Library. Eligible creators will be notified in the Facebook app and we hope to roll out more broadly over time.”
The competition appears to be stiff as just this week, YouTube said that there would be changes in its YouTube Partner Program. The biggest change is the relaxation of its rule in that creators now only need 500 subscribers to start making money on the platform.
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