Ahead of VidCon, Facebook announced it is making a series of updates that aim to provide creators with more opportunities to make money on the platform as it competes with the likes of YouTube and Twitch.
The new updates include more options for creators to earn revenue through different types of video ads. The four different revenue streams are still in early testing phases.
Creator Studio changes
Following creator’s feedback, the Creator Studio, which helps creators post, manage, monetize and measure content across pages, now includes new enhancements like the addition of a retention and audience insights section to its dashboard. Facebook is also including a monetisation analytics section to Creator Studio so creators can look at the estimated revenue for videos and other channels, as well as the ability to manage Instagram posts via Creator Studio.
In addition to the Creator Studio updates, Facebook is making changes to make its platform more appealing to video creators. Creators can run pre-roll ads that play before a video and image ads that appear beneath a video while it plays in the hope the options are more reliable revenue drivers.
Brand Collabs Manager updates
Following last year’s announcement of Brand Collabs Manager, which lets advertisers discover creators for branded content partnerships based on real insights, Facebook has added performance insights so creators can better understand the engagement they are getting within the platform. Creators will also be able to share their audience with advertisers for ads targeting, making it easier to amplify branded content.
Additionally, Facebook is letting fans support creators by paying a subscription fee to access the likes of exclusive content and discount codes as well as letting creators to set up Facebook Groups that are limited to those who pay a monthly subscription fee to subscribe to the creators’ channels. Facebook hopes this will help fans form deeper communities on the platform.
What’s more, having launched Facebook Stars last year to enable viewers to tip gaming creators whilst watching live gaming streams using the Facebook Stars virtual currency, Facebook is expanding it to non-gaming creators. The platform hopes the feature can complement a creator’s subscription offering.
What are your thoughts on Facebook’s latest updates and how this will affect brands and content creators? Let us know in the comments section below.