See more as Meta announces new program to simplify earnings on Facebook

• Meta has announced a new program that will simplify monetization for content creators across multiple formats
• The new program, Meta said, aims to further empower Facebook’s creator community, making it easier and more rewarding to monetize their content
• Since 2017, more than four million creators have earned money on the platform, and Facebook has paid out over $2 billion in the past year alone

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Meta, the parent company of Facebook, has introduced a new Facebook content monetization beta program that will simplify earnings for content creators on its platform.

This initiative streamlines three key monetization tools – In-stream ads, Ads on Reels, and Performance bonuses – enabling creators to monetize a wider range of content formats.

New programme for content creators Photo credit: Tony Karumba
Source: Getty Images

The new Meta program consolidates Facebook’s existing monetization programs, offering creators a unified approach to earn from multiple formats.

A new program to earn on facebook

According to Meta, the new program consolidates Facebook’s existing monetization programs, offering creators a unified approach to earn from multiple formats.

It noted that only about one-third of creators previously earned from more than one Facebook-funded program due to differing eligibility and availability.

With this update, Meta hopes to simplify the process and broaden the earning opportunities for creators.

A statement from Meta reads:

“We are proud of how our monetization programs have helped creators thrive on Facebook, but we know that the different availability, eligibility requirements and sign-up processes of our various programs have resulted in some creators missing opportunities and others not being eligible to earn from all available formats."

How does it work?

• The new Content Monetization beta program streamlines the monetization process by:
• Allowing creators to earn across multiple content formats through a single program.
• Providing a unified dashboard for performance insights, simplifying tracking.
• Maintaining a performance-based payout structure, rewarding creators for their engagement and content quality.

When will it start?

Meta has already begun sending invitations to one million creators who are currently monetizing on Facebook, with plans to open enrollment to more creators by 2025.

Those interested in early access can sign up through the monetization tab in Facebook's Professional dashboard or Meta Business Suite.

Mark Zuckerberg overtakes Bill Gates

Legit.ng earlier reported that Meta CEO Mark Zuckerberg is now the world's fourth richest man, overtaking Microsoft founder Bill Gates in the new billionaire ranking.

Data from the Bloomberg Billionaire Index shows that despite losing $5 billion in the past 24 hours, Zuckerberg is ahead of his fellow Americans, with $165 billion in net worth compared to Bill Gates's $145 billion.

Zuckerberg rose from the 20th wealthiest man in the world in the second quarter of 2023 to occupy the enviable position after gaining almost $37 billion.

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Source: Legit.ng