When we think of video content online these days, we typically think of YouTube, Twitch and TikTok as being the dominant platforms for content creators. These platforms also prove lucrative with the right strategy. But what about Facebook?
Facebook continues to increase its efforts to make the platform a place for content creators to make money. According to the platform, “From 2019 to 2020, the number of content creators earning the equivalent of $10,000 per month grew 88% and content creators earning $1,000 per month grew 94%.”
Facebook made a change to its monetization criteria for the creators on the platform. With these new criteria, more creators on Facebook have the chance to make money with their content.
Now, creators have the opportunity to monetize videos as short as one minute. Prior to this, videos needed to be at least three minutes long to be eligible for monetization. These one minute clips are still subjected to one 30 second ad.
Facebook also made a change to the placement of adds, giving creators a choice to set the ad at 45 seconds.
Another opportunity for monetization is through stories. Facebook will test features that allow creators to monetize stories with ads.
To make money on Facebook, creators must have at least 10,000 followers on their page, as well as five or more active video uploads. In addition to that, they must have 600,000 total minutes viewed across all of their video content within the last 60 days.
Moving forward, Facebook also wants to explore the monetization of Facebook Live.
“Looking ahead, we’re exploring in-stream ad formats that increase engagement through rewards or product interaction — intending to help content creator payouts grow — while also providing a good viewing experience for people and a way for advertisers to reach relevant audiences.”
It appears that Facebook is going full steam ahead to ensure that content creators continue to create on the platform.
Check out Facebook’s article to read more about these changes.