Facebook Paying Influencers $1B to Use the Platform

Facebook Paying Influencers $1B to Use the Platform

These days, Facebook is known as the social network for the generations of people that may not really understand how the computer works. Parents, grandparents and, somehow, all of your older coworkers have made the platform home, driving the younger demographic, and subsequently its influencers, to newer social media sites like TikTok where they've built their own followings. But Facebook has revealed that it has plans to bring influencers to its platform so who knows how the social landscape will change in the near future.

Facebook recently unveiled its plans to pay influencers $1 billion to utilize its products, in a program that's set to run until the end of 2022. Its mission? To revive the platform and stop it from being the place to go to see what your old teachers are up to nowadays. This also goes for Instagram which has quickly become second fiddle to TikTok.

Deadline reports that Facebook will reward creators, especially those just starting, and will include a new bonus program that compensates eligible creators for hitting milestones using facebook tools. The company will provide seed funding for creators to make their own content.

"We want to build the best platforms for millions of creators to make a living," CEO Mark Zuckergberg said in a Facebook post. "Investing in creators isn't new for us, but I'm excited to expand this work over time."

Some of these new programs are reportedly already available via invitation for select creators. Some of these are IGTV ads bonuses which enable creators to earn a one-time bonus for signing up, Reels Summer bonuses, which pays Instagram creators for creating Reel content on the platform, badges in Live bonuses, which rewards creators that reach certain milestones, and the Stars Challenges Bonuses, which involves gaming creators hitting certain monthly Stars milestones over the next three months.

More change is set to come soon because a dedicated place for bonuses will arrive in Instagram this summer and Facebook this fall.

Photo via Getty/ Alex Wong