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Meta has announced that it will not take any commission from creators until the start of 2024. The company said it is extending its earlier commitment by a year.

The company said, "We’re extending our commitment to not take fees on subscriptions, badges, paid online events and bulletin by an additional year, running until January 1, 2024." 

The company is also expanding 'Stars', a feature that lets people support their favourite creators. "Facebook Stars, a digital good that fans can buy and send to support creators, is now open to all eligible creators on Facebook Live, on-demand videos and will soon be available on Facebook Reels."

The company said it will soon extend ‘Stars’ to Reels as well. 

Last year, the company announced a 'Facebook Reels Play bonus program' that gave creators a way to make money by making public reels. However, this was only for select creators. Now the feature will be available to creators in the US via application and for creators who meet the following criteria. 

  • 5+ original Reels created in the last 30 days 
  • 100,000+ plays in the last 30 days.

"We’re also testing ways creators can earn money on both Instagram and Facebook with cross posted Reels. Creators will soon be able to use the 'Paid Partnerships with' label for branded content on Facebook Reels and allow sponsors to easily convert them to Branded Content Ads," it further added. 

Creator Marketplace on Instagram

Meta further said it is testing Creator Marketplace on Instagram, where the creators and brands can build content partnerships easily. 

The creators will be able to define the kind of brands and products they want to work for. They will be able to discover relevant partnerships and manage the brand deals easily. 

"Brands will also be able to discover and collaborate with Instagram creators through Meta Business Suite using demographic and interest filters for both a creator and their audience. When they’ve found a creator they want to partner with, they’ll be able to send a project that outlines the details of the opportunity, including deliverables and payment offered. "

Further, Meta announced its investment in 'Interoperable Subscriber Groups'. This enables creators to receive payments from their fans on other platforms, and automatically add them to their subscribers-only Facebook Groups. However, this feature is currently in the testing phase. 

More creators will now be able to share digital collectables (NFTs) across Meta platforms. "Creators and collectors will be able to share their digital collectibles across Facebook and Instagram after we begin rolling out the feature on Facebook with select US creators at a later date. We’ll also soon start to test NFTs in Instagram Stories with SparkAR."

"There will be no fees associated with posting or sharing a digital collectible on Instagram, and for now we won’t offer the ability to turn digital collectible posts into ads," added Meta.

Content@BuzzInContent.com