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Instagram and Facebook will pay over $1 billion to creators through 2022. Here are all their new monetization features.

Instagram logo in the center with "Visit Shop", "Tip", "Buy", and "Earn" buttons surrounding it on an orange and pink gradient background
Facebook announced more ways that creators can earn money on Instagram.
Instagram; Samantha Lee/Insider

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  • Mark Zuckerberg announced that Facebook and Instagram will invest $1 billion into paying creators.
  • The platforms will invite creators to enroll in several "Bonuses" programs that pay creators.
  • Some creators will soon be able to make money for posting Reels, too.
  • See more stories on Insider's business page.

Facebook just made a big move in the ongoing battle to win over creators with paychecks.

Mark Zuckerberg announced in a Facebook post today that the company will be investing more than $1 billion through 2022 in an effort to pay creators for the content they post on both Facebook and Instagram.

"Investing in creators isn't new for us," Zuckerberg wrote. "But I'm excited to expand this work over time."

Over the last year, Instagram and Facebook have rolled out a suite of new money-making opportunities for creators (just as many other social-media platforms like TikTok, Snapchat, and YouTube have also rushed to do).

As the buzz around the creator economy surges — grabbing the attention of both major tech companies and top VCs — the leading social-media platforms have turned their heads toward the creators using their apps.

Instagram has been pushing forward several monetization tools for creators. In April, Zuckerberg and Instagram's top exec, Adam Mosseri, announced a handful of new projects. And in June, Zuckerberg unveiled Instagram's native affiliate program and a new feature called "Bonuses" during the platform's first-ever "Creator Week" event.

Bonuses let creators earn extra cash when going live on Instagram using Badges (Instagram's tipping feature for IG Live). These bonuses are now being expanded to several features on Facebook and Instagram.

Creators will soon be able to make money using Reels (its short-form TikTok rival) from Bonuses as well.

Instagram bonuses feature to pay creators directly for posting Reels, shown on screen.
Select creators will be able to earn money by posting Reels.
Instagram

These Bonuses are the closest thing to a creator fund (comparable to those TikTok and Snapchat have already launched to directly pay creators) that Instagram and Facebook have rolled out.

And there's more to come, Facebook announced. 

Here's a rundown of Instagram's latest updates in the creator monetization race:

  • Creators can get paid for posting Reels. But only if you're invited. Instagram is rolling out a program called the "Reels Summer bonus" in the next few weeks to a select group of US creators. Those enrolled will be able to earn money for posting Reels and earnings will be determined based on a Reels' performance. Instagram confirmed it was testing this feature internally earlier this year.
  • Instagram will pay creators for signing up for IGTV ads. The platform will be inviting select US creators to earn a one-time bonus for signing up for IGTV ads (Instagram's only ad revenue share program). So far, the IGTV ads program has only been rolled out to a beta-testing group of creators. The feature was first announced in May 2020.
  • Bonuses on Instagram Live will be expanded to more countries. Instagram will be inviting more creators across 11 countries to earn Bonuses on Badges. The program so far has been offering individual creators $500 for meeting three milestones. 
  • More ways to earn money on Facebook. Creators who use Facebook's features will also be able to earn money with Bonuses. Select creators who post videos and use in-stream ads can earn bonuses over the next four months, the company announced. The platform will also expand its Stars Challenges program to more users, including gaming creators. Stars is the Facebook equivalent of Instagram's Badges: a tipping feature on livestreaming.

These most recent updates to Instagram and Facebook's monetization tools are all video-oriented, too. This is a continuation of Instagram's shift away from photos and toward video.

"We are no longer a photo-sharing platform," Mosseri recently said in a video posted to social media.

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