Creators on Instagram and Facebook will have to make money from the apps without Meta taking a cut from their earnings. Mark Zuckerberg announced Tuesday that Meta will “hold off on any revenue sharing” until 2024, a one-year extension of his prior pledge to not charge a commission .
The move will cover monetization features where creators directly charge their fans: paid online events, subscriptions, newsletters and badges sold during livestreams. It doesn’t apply to Meta’s advertising-related revenue sharing features for Reels or other video products.
Zuckerberg also announced several other monetization updates for creators on the platform. The company is expanding Stars, the company’s in-app tipping feature, to more creators, and will open up its for Reels to more users as well. Meta is also expanding its support for NFTs on Instagram, which it began testing on Instagram profiles . Now, the feature will be available to more people, though Meta declined to specify exactly how many will now have access. The company also plans to integrate NFTs into Facebook and Instagram Stories “soon.”
The updates build on Meta’s massive investment into creator-centric features. Meta has made competing with TikTok one of its , and getting more creators on its platform to that effort. Creators could also help the company make big bucks on the metaverse, where Meta will get as much as of creators’ earnings.