It’s no secret that Reels is a priority for Meta.
The feature, very similar to TikTok, was first launched exclusively on Instagram and has already become Meta’s main bet in the current battle to win the attention of younger users and content creators.
Last Tuesday, Facebook announced the global expansion of Reels. The announcement came three weeks after Mark Zuckerberg presented Meta’s fourth-quarter results to investors, during which he mentioned Reels more than 20 times, and subsequently ordered Meta employees to focus on short-form video, according to a reportBloomberg.
Expanded access to Reels wasn’t the only news this week. Facebook also unveiled new ways for creators to make money using the feature.
“There are millions of creators who use Facebook to express themselves and reach their audience,” he told Business Insider Rahul Chopra, Facebook’s director of product marketing for public content monetization.
“And there are a significant number of creators who are making significant revenue on our platform.“, he adds.
Until now, long-form video content has been the main moneymaker for Facebook creators. Take The Pun Guys, a Canadian comedy duo with millions of Facebook followers. Through their videos, they typically earn around $1,000 (approximately €900) for every million views thanks to Facebook’s shared ad program, they explained to Facebook. Business Insider in 2021.
Until now, Reels have not been a source of advertising revenue or tips for creators on Facebook.
Instead, creators have only been able to make money from Reels by getting an invite to the Reels Play bonus program, which pays creators based on the number of views they accumulate over a month on both Facebook and Instagram.
The bonuses are part of Meta’s broader incentive programs, funded by the company’s commitment last summer to pay $1 billion to creators through the end of 2022.
The first feature Facebook has introduced this week is an advertising revenue-sharing model — called “Overlay Ads” — that will allow eligible creators to earn 55% of the revenue generated by ads placed on their Reels.
These ads will appear as banners transparent ads or stickers on a Reel, and creators can opt into this program, just like with live ads on longer video content.
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The length of the Reel won’t affect how much money creators can make right now, Chopra notes. Facebook will “monetize all Reels equally.”
While ads in Reels aren’t new (Meta started running ads on Instagram and Facebook Reels last year, without revenue sharing), the arrival of revenue sharing is.
If a creator is already eligible and enrolled in Facebook’s Live ads program, they can expect to gain access to this new Reels ads program, according to Meta.
Uptin Saiidi, a video creator with half a million followers on Facebook, saw a Reels ad option appear in his creator monetization dashboard starting Wednesday, for example.
“If an IG creator cross-posts an IG Reel to Facebook, and if that creator is on our Facebook Live show, they can also monetize those Reels on Facebook with overlay ads,” Chopra notes.
According to the platform, Facebook plans to expand eligibility requirements for overlay ads beyond those with live ads in the coming months.
For now, There is no ad-sharing model to monetize Reels exclusively on Instagram.
“When it comes to the ad revenue share that we’re focused on at Meta, there’s not necessarily a one-size-fits-all approach to monetization when it comes to our platforms,” Chopra says.
In the coming months, creators will be able to access Stars for Reels, which will allow fans to pay creators for their content on Reels.
Stars are now available for Facebook Live broadcasts, and badges serve the same purpose on Instagram. TikTok launched its own video tipping feature last year, under the name of “gifts”.
Currently, Facebook does not take a cut of the revenue that creators generate with Stars (Stars) but it does charge a small fee to cover operating costs, such as Apple’s in-app purchase fees, Chopra notes.
“Tuesday’s announcement demonstrates how serious we are about helping creators build sustainable businesses on our platform,” Chopra added.
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