In order to help the small business setup in the challenging times of Pandemic, Meta had announced they would not take a cut from the Facebook and Instagram creators’ revenue. This announcement was to last for this current year. Now Meta has confirmed that the cut-free will has extended till 2024.
Mark Zuckerberg made this announcement in a Facebook post. According to the CEO, Meta will “hold off on any revenue sharing on Facebook and Instagram until 2024.”
As per the announcement the creators will be able to enjoy two more years of cut-free revenue they earn from the profit paid via online events, fan subscriptions, badges and bulletin.
TikTok had also relieved their content makers in their earnings. The TikTok now allows their creators to offer exclusive access on their Live session via paid subscription.
Apple and Google were also asked by Facebook to either skip their 30% commission or make some reduction in it. Google changed their commission rules as per the Facebook requests. Whereas Apple denied the Facebook request and received a good share of criticism.
The Meta CEO made the announcement that Meta will be now having an interoperable subscriptions. This will allow the paying subscribers of other platforms to have access to Facebook groups. Furthermore, Facebook is also expanding Stars to all eligible creators.
This is a good stop from Facebook. In these hard times of inflation and joblessness an extra source of income will always be helpful.