04:22 PM
Saturday, March 11, 2023
Meta shut down the money spigot that was pouring into the pockets of short video makers on Facebook and Instagram.
A Meta spokesperson told Business Insider that the company is developing a range of new tools and solutions to help content creators generate consistent income.
Reels video makers have been getting their profits through the Reels Play Bonus program since the program was launched in the summer of 2021, and some publishers said they made record profits of $35,000 in one month.
The program was available to Facebook publishers worldwide, but was limited to the United States for Instagram. The company said it is committed to providing profits to everyone who signed up for the program within the last 30 days.
Mita launched this incentive program as part of the company’s promotion of the short video clips that it launched nearly three years ago to compete with TikTok, and allocated $1 billion to pay content makers during 2022.
However, Facebook and Instagram video makers still have different ways to make money from the content they post. They can do so through advertisements displayed on video clips, or by subscribing to their channels or contracting with companies to promote commercial products.
YouTube had ended a similar program for short videos on its site to introduce an revenue sharing program with short clip publishers instead. And TikTok had modified its incentive program to pay more to the makers of long-form videos.