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Instagram adds ways for online video stars to earn money

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HomeLatest Platform NewsSocial NetworksInstagram adds ways for online video stars to earn money

The number of social media users and businesses targeting this market base is constantly increasing every day.

A couple of decades ago, this environment was almost exclusively used for socialization but it’s proven to be a host of many opportunities. Today, if you have an upcoming brand, you can market and build it effectively through various social media platforms.

But how can you earn money through these sites? Well, most businesses that run on these platforms have always depended largely on the direct sales they make to their target audience. As an influencer, your main source of money a few years ago was the services you offer to those companies that require your marketing skills.

Fortunately, those days are gone now that most social media giants are devising new ways of ensuring that influencers are rewarded for their huge number of followers. As you create your content, there are loyal fans who are always waiting to be entertained and even download Instagram stories that you post. Keep reading to learn what Instagram has in store for you.

WHAT TO LOOK FORWARD TO…

Instagram has rolled out new tools enabling people to make money off the videos they post, as it competes for creative talent in an increasingly competitive market for mobile video content.

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Instagram, which already facilitates collaborations between businesses and popular users who get paid to promote products on their accounts, will start letting some of those users sell “badges” to their fans while broadcasting live videos.

The app also will introduce ads in IGTV, its video product, with 55% 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 TikTok, owned by Chinese tech giant ByteDance.

Facebook’s core app introduced similar features allowing so-called ‘influencers’ to capitalise on their loyal fan bases starting in 2018, after the approach was popularised on Alphabet’s YouTube, subscription platform Patreon and video game livestreaming service Twitch, which is owned by Amazon.

Justin Osofsky, Instagram’s COO, said the badges will be sold at three price points – $0.99, $1.99 and $4.99 – starting with several dozen users next month. The company will not take a portion of the sales at the outset.

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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.

CONCLUSION

As a social media influencer with an Instagram account, you now have something to smile about. Once this new feature takes off, you’ll be able to earn directly from your loyal fans provided you continue creating engaging content.

The team at Platform Executive hope you have enjoyed the ‘[post_title]’ article. Automatic translation from English to a growing list of languages via Google AI Cloud Translation. Initial reporting via our official content partners at Thomson Reuters. Reporting by Katie Paul; Editing by Simon Cameron-Moore.