Facebook And Instagram To Hold Off On Revenue Sharing With Creators Until 2024

Meta (formerly Facebook) on Tuesday announced that it will not cut off the revenue of creators on both Instagram and Facebook until 2024.

Meta had earlier announced that it would hold off on revenue sharing with creators until next year. Image: Getty

Meta (formerly Facebook) on Tuesday announced that it will not cut off the revenue of creators on both Instagram and Facebook until 2024. The company CEO Mark Zuckerberg also announced that the social networking giant will introduce more ways for creators to monetise through Facebook and Instagram and also expand its current monetisation tools to more creators.

Meta had earlier announced that it would hold off on revenue sharing with creators until next year.

"Rolling out more ways for creators to make money on Facebook and Instagram -- and sharing updates that will help creators build for the metaverse. We're heading towards a future where more people can do creative work they enjoy, and I want platforms like ours to play a role in making that happen," Zuckerberg wrote in a Facebook post.

"More 💰straight to creators: We'll hold off on any revenue sharing on Facebook and Instagram until 2024. That includes paid online events, Subscriptions, Badges, and Bulletin," he added.

The company CEO also said that more content creators would be eligible for monetisation programmes on Reels, the Facebook clone of TikTok. This development comes days after Meta asked its employees to change the platform's algorithms to make it more like its Chinese competitor TikTok that is gaining immense popularity among teenagers.

The other directive to employees is that years after Messenger and Facebook split up as separate apps, the two will be brought back together, mimicking TikTok's messaging functionality, said a report. The company realises that its short-form video platform Reels is not enough to threaten TikTok.