After the recent Avatar Store launch, Meta has given its content creators a bit more to enjoy the platform. Last year, Zuckerberg announced that creators would face revenue cuts from 2023. Today, in a Facebook post, he extended the date. The revenue cuts will now be applicable in 2024.
Revenues earned through online events, Badges, Subscriptions, and Bulletins will be relieved for another year. There are other additions as well. Now, creators can allow members on different platforms to join their subscriber-only groups on Facebook and monetize popular reels on Instagram through the ‘Reels Play Bonus’ program.
Additionally, a "Creator Marketplace" is now being set up for creators to earn more from their content. Brands can also benefit by publishing partnership opportunities. Lastly, users can showcase their NFTs on Instagram. It will soon come to Facebook and currently involves a few U.S. creators only. Zuckerberg has hinted at using SparkAR too by saying, “We’ll also test NFTs in Instagram Stories with SparkAR soon.” Creators will also be able to earn through their live or VOD videos too through Facebook Stars.
We do not know the launch date for the new features yet, nor has the percentage for the revenue cuts been disclosed. But, we do know that Zuckerberg said, “And when we do introduce a revenue share, it will be less than the 30% that Apple and others take.” in June 2021.