VidCon is fast approaching, and Meta is going to share its monetization updates with the online community. The monetization update is specifically tailored to Facebook and Instagram Reels, which makes it easier to create Reels and make more money off of them.
Meta’s updates on Facebook Reels
In Facebook’s Professional Dashboard, the platform added Inspiration Hub, where creators can check out popular content. In the Reels Composer, creators can also access the Templates Hub, where they can browse trending templates.
Making Reels is also easier on the mobile app as the creators can layer elements such as “audio, music and text into a unified editing screen.” Additionally, creators can create a clipped Reel from their long videos or live. For Facebook Live, the Clips to Reels feature was updated so the creators can select a clip from the livestream and directly upload it as a Reel.
Updates on Meta’s monetization solutions for its creators
Meta is also testing cross-posting branded content reels and stories from Instagram to Facebook. This way, the cross-posted content will show the creator’s Facebook handle and business partner.
Additionally, Meta’s Performance bonus program is also getting an expansion soon to introduce more bonuses to creators who have strong engagement with their audience. Creators can also easily check their bonus earnings on mobile, making it easier for them to adjust their content to drive up engagement.
Smaller creators can earn now with lowered eligibility requirements
Meta is lowering the eligibility requirements for Facebook Stars monetization from 1,000 followers to 500 followers. In addition to that, creators now need to only have this number of followers for the past 30 days instead of the previous 60 days. This is good news for new creators on Facebook.
We will know more once Meta makes the announcement on VidCon 2023. But it’s looking like the tech giant is investing more into its monetization options in hopes of enticing more creators to make content on its platform. We’ll have to see if it works.