Mark Zuckerberg-led Meta has now declared that the Reels creator bonus has been put on hold.
Additionally, the company stated in an official statement that it is concentrating on developing new features to make it simpler for creators to develop and expand their audience.
Meta Discontinues Bonuses for Reel Creators
In February 2022, the popular social networking site announced that creators will be allowed to monetize Reels and will expand tests to overlay ads like banner and sticker ads.
According to Facebook, individuals utilized its services because it provided them with value and “they had significant control over the data they shared on Meta’s platforms and with whom they shared it.”
The scheme motivated content makers to produce additional video content. Nonetheless, all Reels creators on Facebook and US-based creators on Instagram will be affected by the shutdown. Meta has indicated that if Reels enter a new market, it may reintroduce the programme in a more specific manner, according to reports.
In the past, content creators were rewarded with bonuses as part of this program. Several creators received bonuses exceeding $10,000, with some even claiming to have earned up to $35,000 in a single month. To be eligible for these bonuses, creators had to accumulate millions of views on their reels.
Reels Generated Annual Business of $1 Billion
Mark Zuckerberg, the CEO of Meta (formerly Facebook), announced last year that Reels generated an annual revenue of $1 billion. The company had hoped that the format would bring in more revenue as it invested in metaverse initiatives.
However, with Meta discontinuing the bonus program, content creators would require incentives to post short videos on its platforms, rather than on TikTok or YouTube Shorts. To address this issue, Facebook has promised to introduce more monetization tools to enable creators to earn money.
Tom Alison, the head of Facebook, stated that the company is focused on adapting and improving monetization tools for short videos. The company intends to expand its tests of ads on Facebook Reels to help more creators earn ad revenue for their Reels, as well as to boost virtual gifting through Stars on Reels.
