Instagram Adds Ways for Online Video Creators to Earn Money 4d4p Technology News

Instagram will also will introduce ads in IGTV, its video product, with 55 percent of revenue going to the creators of the videos against which those ads run. 5e3w3x

By Reuters | Updated: 28 May 2020 12:14 IST

Photo Credit: Instagram 2e6yx

Instagram is not yet planning to offer subscriptions for exclusive content

Highlights

Avani Gregg, Eitan Bernath, Salice Rose will participate in early tests
Facebook's core app introduced similar features starting in 2018
Instagram isn't yet planning to offer subscriptions for exclusive content

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Facebook's Instagram app on Wednesday rolled out new tools enabling people to make money off the videos they post, as it competes for creative talent in an increasingly crowded market for mobile video content. Instagram, which already facilitates collaborations between businesses and popular s who get paid to promote products on their s, will start letting some of those s sell "badges" to their fans while broadcasting live videos.

The app also will IGTV, its video product, with 55 percent of revenue going to the creators of the videos against which those ads run.

Among the personalities it selected to participate in early tests for those tools are Avani Gregg, Eitan Bernath, and Salice Rose, rising stars who built much of their followings on social video phenomenon ByteDance.

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Justin Osofsky, Instagram's Chief Operating Officer, said the badges will be sold at three price points - $0.99 (roughly Rs. 75), $1.99 (roughly Rs. 150) and $4.99 (roughly Rs. 378) - starting with several dozen s next month. The company will not take a portion of the sales at the outset.

Instagram was not yet planning to offer subscriptions for exclusive content, said Osofsky.

Nor was it aiming to lure big-name figures to the platform with licensed original content, he said, although it had started covering production costs for a small number of content producers over the past several months.

"We're trying to test out this direct contribution model between people and creators, and then we'll see what makes sense to evolve," said Osofsky.

© Thomson Reuters 2020

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