Meta has paused its Reels bonus programme that gives bonuses to creators for creating Reels and reaching certain benchmarks. This action will affect all Reels creators on Facebook and creators on Instagram. Creators will no longer be paid based on the “popularity of their short videos”, but Meta will still pay bonuses to creators who have existing commitments for 30 days, according to Business Insider’s report.
With Meta cutting its Reels bonus programme, Facebook said that it would provide more monetisation tools so it could help creators earn secure streams of income, according to TechCrunch. Creators used to receive up to US$35,000 in a month, the article said.
MARKETING-INTERACTIVE went on Instagram and found there are mixed reviews on the change. Some users are not happy with the change and said "I'm officially done with this platform" while another user was glad as the "programme made people get less views". One creator said she was surprised and that she thought that Meta is "focusing more on giving back to the creators".
According to TechCrunch, the programme might be reintroduced in “targeted” ways for new markets. However, Reels has already entered in over 150 countries having first launched in December 2021 to compete with the likes of TikTok.
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In 2022, Meta founder Mark Zuckerberg said that the short video product attained a US$1 billion annual revenue rate. Meta wants Reels to bring in more revenue so it could invest its finances on metaverse. Currently, Zuckerberg does not think that the product is reaching its revenue goal, according to TechCrunch.
MARKETING-INTERACTIVE has reached out to Meta for a statement.
Recently, Meta, the parent company of Facebook, WhatsApp and Instagram, reportedly planned to make new rounds of cuts around March following a massive layoff of 11,000 staff last November. This comes after emerging reports such as Forbes and Financial Times revolve around speculations of further staff cuts within the company in the upcoming month, as Meta is currently going through performance reviews of employees.
In addition to the layoffs, Meta was also testing Meta Verified, a monthly subscription service, according to an announcement made by its CEO Mark Zuckerberg. It is a new subscription bundle that includes that includes a verified badge that authenticates your account with government ID, proactive account protection, access to account support, and increased visibility and reach.
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