Facebook plans to give out $1B to creators through 2022
Mark Zuckerberg says new programs will reward creators for content they make on Facebook and Instagram.
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Facebook is creating new programs that'll dole out more than $1 billion to creators who make content for the social network and for its photo-focused service, Instagram, Facebook CEO Mark Zuckerberg said in a post Wednesday.
"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. "Investing in creators isn't new for us, but I'm excited to expand this work over time."
Facebook followed up with more information in a blog post, saying it'll pay "bonuses" to creators for hitting certain milestones when they use the company's creative and monetization tools. Facebook will also provide "seed funding" to help creators produce content.
Facebook isn't the only company courting creators. TikTok last year launched a creator fund that it says will grow to over $1 billion in the US, and earlier this year YouTube unveiled a $100 million fund to pay people who make clips for Shorts. Twitter has also launched new tools that aim to help creators earn money, like Super Follows and tipping.
Facebook said its bonus programs will be evolving and will expand over time. For creators, a dedicated place for bonuses will launch in the Instagram app this summer and in the Facebook app in the fall, the social network said.