Social media is ever-evolving as competition is pretty steep. Various platforms constantly encroach on each other’s turf by copying and cloning features, all in a bid to keep users glued to their platform.
TikTok is growing fast and has recently surpassed the 1 Billion monthly active users, and Meta’s Instagram has taken note. Instagram has a TikTok clone feature dubbed Reels, and now, creators might have one more reason to use this platform.
Also read: Instagram testing ‘Take a Break’ feature to help you spend less time on the platform
Instagram is offering a lot of money to creators to post videos on its TikTok and Snapchat competitor, Reels. This is according to a report published by TechCrunch. To recall, Instagram first made public info about its bonus program for Reels in July when the Facebook CEO Mark Zuckerberg said the company was planning to pay $1 billion to creators through 2022.
Snapchat and YouTube are also offering equally lucrative incentives to their creators. In August, YouTube revealed that they were planning to pay up to $10,000 each month for popular videos on the platform.
Also worth noting is that just last month, Snapchat announced Spotlight Challenges, an initiative that offers different rewards to encourage creators to make videos. Snapchat revealed that the prize pools typically go from $1,000 to $25,000.
The social media era means that people can make a living out of their creativity by selling their content and connecting directly to the consumers, thereby bypassing traditional media establishments like TV. This is a massive opportunity for users, and we can only hope to see better remuneration and compensation moving forward.
More details about the Reels Play bonus program can be found on Instagram’s official website. It’s important to note that the program is currently only available in the United States. It remains unclear whether the same benefits will extend to content creators in other regions of the globe.
Recently, we have also talked about how Instagram is rolling out a new ‘Take a Break’ feature to help incentivize users to spend less time on the platform, and you can check out our coverage of the same here.