On Wednesday, July 14, the CEO of Facebook gave a great announcement that for many content creators, is excellent news!
Mark Zuckerberg plans to invest millions of dollars in content creators on Instagram and Facebook. The reason? Compete with TikTok. This new Chinese app has the other content apps trembling with fear.
“We want to build the best platforms for millions of creators to earn a living. So, we are creating new programs to invest more than $1 billion to compensate creators for the great content they create on Facebook and Instagram through 2022”. Mention Zuckerberg.
“Investing in creators is not new to us. But I am excited to expand this work overtime. I will give more details soon”. He added.
In the beginning, This will be an invitation-based program. It is expected that by the end of 2021 a portal will be created where creators will be able to track their own earnings on both social networks.
Users will be paid to use specific tools or functions on the Facebook and Instagram platforms in order to achieve milestones.
TikTok is considered one of the most downloaded apps of all time. To this day, TikTok is known to have been downloaded more than 3 billion times. The move is part of the strategy to keep up with the growth of TikTok.
This application was launched in September 2016. It took only 200 days to develop it, so it makes us think that they had quite clear ideas. Its growth has been just as fast. In February 2017, the social network had a total of 66 million active users. By October 2018, it was already noted that the barrier had been exceeded 130 million users.
Perhaps that is why other social networks like Instagram are so concerned with improving their content