Facebook is setting up a program to pay $ 1 billion to creators by the end of 2022, Facebook CEO Mark Zuckerberg said Wednesday, to attract influencers to its platforms.
The $ 1 billion will be shared among creators of all kinds to encourage influencers to create original content and post it on Facebook, the social network said. Influencers can make money by using certain Facebook and Instagram features or by reaching certain milestones. For example, if YouTubers live stream regularly, they can make money.
Over the past year, an arms race has developed between tech companies seeking to woo online content creators who can generate tremendous engagement and bring their young fans and cultural relevance to one platform. TikTok and YouTube have cultivated deep relationships in the creator community by helping creators make money and developing features that suit their needs.
As part of Facebook’s new program, which is initially only possible by invitation, authorized YouTubers will be shown notifications when opening the app, encouraging them to join the initiative. Facebook announced that it would create a special place for YouTubers to track their bonuses on Instagram and Facebook by the end of the year.
This is not the first time Facebook has given developers money to use their products. The company previously paid TikTok influencers and YouTubers to use features on Instagram like IGTV, a long-form video feature similar to YouTube, and Reels, a feature that works similar to TikTok. In December, Facebook promised to invest $ 10 million in the black gaming community over the next two years and to offer some developers guaranteed monthly payments for using Facebook Gaming, a streaming platform similar to Twitch.
Direct payments are increasingly used to distract YouTubers from TikTok. In November, Snapchat began giving away $ 1 million a day to content creators who post on the app’s Spotlight feature, which works similarly to TikTok. These payments have dried up recently, making Facebook’s loyalty program potentially enticing.
At least 50 million people around the world consider themselves content creators today, and it’s one of the fastest growing segments of small businesses, according to a report from venture capital firm SignalFire.
On Wednesday, Insights mobile company Sensor Tower announced that TikTok was the most downloaded app worldwide in the first half of 2021. TikTok has also surpassed three billion installations worldwide, according to SensorTower, making it the first non-Facebook app to surpass that number.