Facebook Updates Its Subscription Model So Creators Can Earn More Income
Image via Facebook
This week, Facebook announced that it would be changing its subscription model so as to better support creators. The blog post, written by founder Mark Zuckerberg, also hit out at the 30% transaction fees Apple collects, which it said hindered creators from earning more.
“We’re focused on unlocking opportunities for creators to make money from their work. The 30% fee that Apple takes on transactions make it harder to do that, so we’re updating our Subscriptions product, so now creators can earn more,” wrote Zuckerberg.
According to Insider, the company first introduced the model in June 2020, allowing creators to receive monthly-recurring payments from audiences who subscribe to their content. This was touted as a way for online entrepreneurs to make a “sustainable income.”
Creators eligible for the program, which include those with more than 10,000 followers or over 250 return viewers with 50,000 post engagements or 180,000 minutes watched, can now ask their fans to contribute via the platform’s own payment system, Facebook Pay.
Additionally, as reported by TechCrunch, there will be new bonus incentives in which creators receive between US$5 to US$20 for each new subscriber they acquire until the end of 2021.
By paying through Facebook Pay instead of through the Facebook app, creators will no longer have 30% of their transaction fees collected by Apple.
The site will generate custom-made links for them to share with subscribers, so that they’ll be able to keep more of the money from the program.
Image via Facebook
[via Insider and TechCrunch, images Facebook]
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