Facebook's investments will include bonus
programs to pay creators who hit certain milestones on its apps, including
photo-sharing service Instagram, and fund users to produce content, the company
said.
The social media giant is opening its
wallet to woo creators with major fan followings from platforms like Alphabet
Inc's YouTube and short video app TikTok.
Multiple major tech platforms are on the
offensive to attract and keep social media personalities with new payments and
services.
TikTok has committed to spending $2 billion
to support creators over three years. Snap Inc's Snapchat used to pay creators
a total of $1 million per day to post popular short-form videos on its service
and says it still distributes millions per month to support creators through
its Spotlight program.
"With the 3 billion install milestone,
TikTok is the fifth non-game app to join a tier that's historically been the
exclusive domain of Facebook," said mobile insights firm Sensor Tower in a
Tuesday report.
Facebook said its bonuses so far are by
invitation only. On its main platform video creators and online gamers will
receive a monthly bonus if they hit milestones like broadcasting a certain
number of hours to earn Stars, a form of digital tipping that fans can use to
pay their favorite creators during live-streamed videos.
Instagram's bonus programs will include
incentives to use Reels, its copycat TikTok feature that showcases short-form
video clips. Creators will earn money based on how their Reels videos perform,
the company said.