Here at This Week in Blogging, we try to focus on sharing news and stories that could have a legitimate impact for you.
Much of the time, that means we're following money that is being spent and offered en masse, and this week is no different.
Today, we're giving you all the details on Facebook's new 1 billion dollar creator fund, so you can see when you might be able to get in on the action.
A Billion Bucks Coming to FB/IG Creators
Honestly, we're totally fine with the arms race that is going on right now where different companies are pouring money into creator funds. Keep it coming, by all means.
As Facebook said on the announcement on their website, "This investment will include new bonus programs that pay eligible creators for hitting certain milestones when they use our 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."
What Does This Look Like in Practice?
Firstly, as far as timeline is concerned, the billion dollars is meant to be spent before the end of 2022, so in the next 18 months.
There's a heavy focus on "bonus opportunities," and these are available already we're told, though currently invitation only at this moment. New options for making money will be announced soon, and the pool of creators who can tap into this will also be expanded.
Apparently there will be a dedicated place for bonuses in both apps shortly. For Instagram, this summer, and for Facebook this autumn.
An "In-Stream bonus" will be rolled out over the next four months for video creators who are using in-stream ads currently.
They're expanding their payouts to gaming creators, who will receive bonuses for hitting milestones associated with Facebook's "Stars Challenges."
Apparently if creators reach certain tipping milestones during livestreams, there will also be bonuses.
Creators will be paid out when they enable ads on their IGTV videos
As with Facebook, there will be payouts for reaching tipping milestones during livestreams.
Popular videos on Reels will trigger bonuses
Both Snapchat and TikTok created significant funds to payout their creators recently, but none of them have focused on this bonus style system - a move which has confused some, but many feel it could pay off if it catches fire.
This is also the biggest creator fund established thus far, and a move that some see as desperation from Facebook in their move to combat the popularity of TikTok, and others see as a power move for Facebook to remind others that they've got deep pockets.
Facebook also announced that they won't take a cut from creators making money for the first couple of years of their creator revenue programs.
We can see clearly here that Facebook sees their stable of creators as a big source of revenue for them moving forwards, but let's see if the revenue is reciprocated and creators can really make some bank here.
Facebook's VP of Ads & Business Products shared an article earlier in the month about their push into personalized experiences. That is to say, even more e-commerce coming to a social network near you!
What Experts Would You Like to See Featured on TWIB?
In the past, we've featured blogging, social media, and other industry experts in This Week in Blogging- specifically in the form of responding to the news as well as in more robust interviews.
If you've been paying attention, we haven't had any featured experts in the last few editions as we're currently on revamping our interview process to ensure we get the right people commenting on the most appropriate topics for their skillsets.
While we are working on these on the backend, we were curious on what experts you'd like to see on TWIB?
Is there a rockstar Facebook guru you have a burning question for? Or maybe an SEO expert you look up to? Or perhaps even a top blogger in a specific niche you'd like to hear insights on?
We'd love to know about it. So if you have any recommendations on who we should talk to as well as any question you'd like to ask, we would love it if you replied directly to this email to tell us.
More expert interviews will be coming your way soon!
That's it for the week! Check your inbox next week for another update from This Week in Blogging.
As always, if you have any questions, comments, or feedback, feel free to reply directly to this email. Jeremy is locked into an eternal battle with a raccoon that decided his deck garden is a free buffet, so Chris is replying to emails this week.
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