look news india
New Delhi: Meta is going to make changes to the monetization program for its social media platform Facebook. Till now the company was running three creator monetization programs, which it is now going to combine into one. This will benefit those producers who will be able to earn from the platform.
Currently, creators can earn money on Facebook in three ways. These three methods are – in-stream ads, reel ads and bonus display. All three have different requirements and sign-up processors. Under the new MonetizationProgram, creators will now have to sign up at one place.
Meta recently announced that it paid out nearly $2 billion to creators for Reels, videos, text, and photo posts on its platform last year. The company also recognizes that creators are not able to monetize to their full potential on the platform. Only a third of creators are eligible to take advantage of more than one monetization program.
What changes have occurred?
The new MonetizationPolicy will work in the same way as the old program. Now it is introducing performance based payment model. Also, creators will be able to earn from their reels, long videos, photos and text posts like before.
Additionally, Meta will give all creators access to a new Insights tab, allowing them to easily track earnings from posts across different content formats.
How to apply for the new monetization program?
Meta's new monetization feature is currently in beta mode. Meta is currently testing the new program with 1 million creators. It can be introduced to everyone by next year. Beta testing has started this week.