Meta, under the leadership of Mark Zuckerberg, has announced the suspension of the Reels creator bonus.
Furthermore, the company has expressed its focus on creating new features to facilitate the process of audience development and expansion for content creators, as per an official statement.
Meta Discontinues Bonuses for Reel Creators
Back in February 2022, the renowned social networking site had announced its decision to enable Reels creators to monetize their content, expanding the testing of various types of ads, such as banner and sticker ads.
Facebook had attributed its success to offering value to its users and giving them substantial control over their shared data on Meta’s platforms and with whom they shared it.
The Reels creator program had incentivized content creators to produce more video content.
However, all Reels creators on Facebook and US-based creators on Instagram will be affected by the program’s shutdown.
Reports suggest that Meta may reintroduce the program in a more targeted manner if Reels enter new markets.
In the past, the program had rewarded content creators with bonuses, with some receiving over $10,000, and a few even claiming to earn up to $35,000 in a single month.
To be eligible for these bonuses, creators had to accumulate millions of views on their reels.
Reels Generated Annual Business of $1 Billion
Last year, Mark Zuckerberg, the CEO of Meta (formerly Facebook), had revealed that Reels had generated an impressive $1 billion in annual revenue.
The company had hoped that this format would generate even more revenue as it invested in metaverse initiatives.
However, the discontinuation of the bonus program may discourage content creators from posting short videos on Meta’s platforms, prompting them to opt for TikTok or YouTube Shorts instead.
To address this concern, Facebook has committed to introducing additional monetization tools to enable creators to earn money.
According to Tom Alison, Facebook’s head, the company is focused on adapting and enhancing monetization tools for short videos.
Facebook aims to extend its tests of ads on Facebook Reels to help more creators earn ad revenue for their Reels while also boosting virtual gifting through Stars on Reels.
