Instagram rolls out subscription monetisation feature for creators
Currently, creators earn revenue through advertising or bonuses directly from Instagram
Meta-owned photo-sharing platform Instagram has launched a new monetisation feature called subscriptions which will help creators earn recurring monthly income. Currently, creators earn revenue through advertising or bonuses directly from Instagram.
"Creators inspire people around the world with their talents and push culture forward every day. At Meta, we strongly believe in enabling creators to make a living through our platforms and have built a suite of tools to allow them to do that—helping them get support from their audience, partner with brands and earn money from advertising or bonuses directly from Instagram and Facebook. We’re excited to introduce our newest monetization feature: Instagram Subscriptions," the platform said in a blog post.
Subscriptions was first launched in 2020 on Facebook to help creators build sustainable businesses powered by the support of their communities. "Based on strong creator feedback, we’re ready to now bring this business model to creators on Instagram. With Instagram Subscriptions, creators can develop deeper connections with their most engaged followers and grow their recurring monthly income by giving subscribers access to exclusive content and benefits, all within the same platform where they interact with them already," the platform added.
Instagram is testing subscriptions with a handful of creators who will be able to set a monthly price of their choice, unlock a “subscribe” button on their profile. The feature will only be available to a limited number of US creators during this initial test with plans to expand access to more creators over the next few months. The platform has hand-picked creators like @alanchikinchow, @sedona._, @alizakelly, @kelseylynncook, @elliottnorris, @jordanchiles, @jackjerry, @bunnymichael, @donalleniii and @lonnieiiv to test the subscription feature.
Creators can offer three benefits to their subscribers through the subscription feature. These include, 1) Subscriber Lives: Creators can broadcast exclusive Lives to their subscribers, allowing them to engage more deeply, 2) Subscriber Stories: Creators can create stories just for their subscribers, allowing them to share exclusive content and to use interactive story stickers with their most engaged followers only, and 3) Subscriber Badges: Creators will see a subscriber badge next to comments and messages, so they can easily identify their subscribers.
Earlier this year, Meta had announced that will not collect any fees from creators on Facebook Subscriptions purchases until 2023 at the earliest, and this will also apply to Instagram Subscriptions. "Additionally, we believe that creators should know their audience and have more control over their business. We hope to build the tools to allow them to also directly connect with their audience off platform in the future," the platform stated.
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