Instagram & Facebook launch new monetization features to support creators

Kelsey Formost

02 Jun 2020 · 1 min read

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Instagram and its parent company Facebook have officially announced the launch of new features that will allow creators to monetize their profiles in new ways.

Facebook Launches ‘Shops’

In perhaps its biggest move into the e-commerce space to date, Facebook has officially announced the release of ‘Shops’, a feature aimed at supporting companies who are currently unable to conduct in-person business.

With the surge of online consumption, many business owners are looking to expand and strengthen their digital presence. The release of ‘Shops’ presents a welcome opportunity to connect with consumers online via a trusted platform.

‘Shops’ allows users to create an online store on Facebook and Instagram for no fee. Users can build their shop, choose products to feature, and customize their banner. Facebook is also aligning with third-party e-commerce platforms like Shopify, BigCommerce, WooCommerce, Channel Advisor, and more to allow shop owners to sell their products across channels.

Facebook plans to expand the ‘Shops’ feature to Instagram later in the year.

Ads in IGTV

We broke the news that Instagram was in beta testing for this feature a while ago, and now the launch is official. Starting this week, Instagram is allowing creators to allow ads in their IGTV videos. Instagram will be sharing ad revenue with creators who opt-in to serving ads in their long-form IGTV videos.

IGTV ads provide creators with an additional revenue stream to support their channel so they can support themselves while they continue to create content their viewers love.

‘IG Live’ Badges in Beta

Instagram is reporting a 70% increase in use of IG Live from February to March 2020 and is now introducing a way for creators to monetize the feature. IG Live has enabled businesses and creators to stay connected to their audience in real time, and now viewers will be able to show support by purchasing badges during a livestream.

In their release, Instagram stated, “badges will appear next to a person’s name throughout the live video. Fans who have purchased badges in Live will stand out in the comments and unlock additional features, including placement on a creator's list of badge holders and access to a special heart.”

This is a new feature in beta will allow fans to support their favorite creators and brands while accessing exclusive content and features during Live streams.

The Future of Rev Share

All signs point to Facebook and Instagram continuing to open up revenue streams for creators and businesses. As most of the world learns to conduct more business online, these platform updates and the trends they symbolize are poised to continue (and succeed) well beyond 2020.

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