Facebook CEO Mark Zuckerberg announced to launch new programs to pay $1 billion through 2022 to users who create content for its platforms – Facebook and Instagram.
“We want to build the best platforms for millions of creators to make a living, so we’re creating new programs to invest over $1 billion to reward creators for great content they create on Facebook and Instagram through 2022,” Zuckerberg wrote on Facebook. “Investing in creators isn’t new for us, but I’m excited to expand this work over time.”
With such incentives, Facebook hopes to attract more content creators to give tough times to China-based popular video sharing app, TikTok.
The investment will include new bonus programs that pay eligible creators for hitting certain milestones when they use company’s creative and monetization tools.
“We’ll also provide seed funding for creators to produce their content. Our goal is to help as many creators as possible find sustainable, long-term success on our apps,” Facebook said in a statement.
The tech firm also plans to launch new bonus programs during the running year that will pay out creators for reaching specific milestones.
Among the upcoming bonus programs is a Reels Summer Bonus that will be rolled out in the coming weeks and pay U.S. users who create great Reels content for Instagram.
Reels is a full-screen, short-length video feature that was introduced by Instagram last year to compete with TikTok.
“We will launch a dedicated place for bonuses within the Instagram app this summer, and in the Facebook app in the fall, where creators can learn about bonuses available to them,” it added.
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