Facebook Content Creators: For at least the next two years, i.e. till 2023, Facebook Inc will not charge content producers a fee, said CEO Mark Zuckerberg on Monday, just hours before Apple Inc’s annual developer conference, when the iPhone maker faces an agitated developer audience.
“And if we do adopt a revenue share, it will be less than Apple’s and others’ 30 per cent.”, says Zuckerberg.
In a blog post, Zuckerberg clearly stated that paid online events, fan memberships, badges, and Facebook’s forthcoming independent news offerings will all be accessible for creators without any charges or commissions until 2023.
The growing income discrepancy in the creator economy, where top social media stars often earn large sums of money but small/beginner Facebook Content Creators/producers struggle to make ends meet, is an increasing source of concern.
It was causing a situation of discouragement among the creators to start producing content on social media platforms. However, the onset of such kind measures by the Social Media Giant will make things a lot better for the new creators.
Apple’s dominance over which applications make it to its application store, as well as its 15 percent to 30 percent commissions on online sales, have come under fire from regulators, with the iPhone maker having to defend its App Store practices in court.
Zuckerberg’s moves challenge the cruelties of his competitors like Apple. He made a point concerning the practitioners of boss-cost, that community (creators) first approach is the future.
People today do not pay directly for content, so the revenue generation streams for creators are really difficult to create. They certainly depend on the traffic and the audience relevance of the platform. In that context, a lot of social media channels might take a beating from Facebook very soon due to their greedy practices.
Not only that, but Mark Zuckerberg has slowly been converting all his Social Media Platform Applications (especially Instagram) into all-in-one paradigms. The introduction of Reels, Stories, Custom Filters, IGTV, etc. has completely changed the game.
Creators are focussing on one platform these days rather than trying to hook people with different types of content on different platforms. Not only that, the algorithms followed by Facebook and its sister platforms are very unique.
They ensure a relevant audience on each post to maximize engagement. So when one particular set platform becomes an all-in-one win-win messiah for creators, what will they choose? A small question for you, but a big one for Facebook’s competitors.