Unfashionable Facebook follows the latest trend and will allow content creators on its platform to earn revenue from short-form videos via advertisements, the world’s leading social network has said.
The announcement came in a blog post where the company detailed its plans to help creators make more money, as smaller tech rivals have been racing to attract famous social media personalities in order to attract new users.
Snapchat owner Snap Inc has been paying $1 million per day to creators who make viral short videos on its feature called Snapchat Spotlight. Twitter recently announced it would launch “Super Follows,” which would let users charge followers for exclusive content.
Facebook said creators can now earn ad revenue from videos as short as one minute, down from three minutes previously.
It will also begin testing ads that look like stickers, which content creators can use in their Facebook Stories to earn money.
More creators can now qualify to earn ad revenue from live-streaming videos on Facebook, previously an invite-only program.
The social media giant said it would also give away $7 million in free Facebook Stars, which users can pay to creators on Facebook Live as a form of tipping.
The team at Platform Executive hope you have enjoyed the ‘[post_title]’ article. Translation from English to a growing list of other languages via Google Cloud Translation. Initial reporting via our official content partners at Thomson Reuters. Reporting by Munsif Vengattil in Bengaluru and Sheila Dang in Dallas. Editing by Devika Syamnath, Alexandra Hudson.
Stay on top of all the latest developments across the platform economy and gain access to our problem-solving tools, proprietary databases and content sets by becoming a member of our community. For a limited time, subscription plans start from just $16 per month.