Facebook plans to pay creators and influencers up to $1 billion before the end of next year to use the company's various social media platforms, according to a new report.
The New York Times reports that Mark ZuckerbergMark Elliot ZuckerbergHillicon Valley — Presented by Xerox — Democrats press FTC to resolve data privacy 'crisis' House Oversight Democrat presses Facebook for 'failure' to protect users Hillicon Valley — Facebook 'too late' curbing climate falsities MORE, Facebook’s chief executive, said this week Facebook will pay creators to make original content, livestream and reach certain milestones.
Eligible creators will see alerts encouraging them to join the effort when they open the app, the Times reported, with the company saying it plans to create a specific place for them to track their bonuses on Facebook and Facebook-owned Instagram.
In March, Facebook announced it was expanding options for users to monetize content as the platform renews its a focus on short-form videos and broadening subscription-based features.
"We want to build the best platforms for millions of creators to make a living, so we're creating new programs to invest over $1 billion to reward creators for great content they create on Facebook and Instagram through 2022," Zuckerberg said in a post this week.
"Investing in creators isn't new for us, but I'm excited to expand this work over time," Zuckerberg said, adding that more details will be released soon.