Zuckerberg says Meta won't take commission from creators until 2024

Meta CEO Mark Zuckerberg has said that the company will "hold off on any revenue sharing" until 2024, a one-year extension of his prior pledge to not charge a commission until 2023.

Mark Zuckerberg
Meta CEO Mark Zuckerberg (Photo: Bloomberg)
IANS San Francisco
2 min read Last Updated : Jun 22 2022 | 10:56 AM IST

Meta CEO Mark Zuckerberg has said that the company will "hold off on any revenue sharing" until 2024, a one-year extension of his prior pledge to not charge a commission until 2023.

According to Engadget, creators on Instagram and Facebook will have another year to make money from the apps without Meta taking a cut from their earnings.

The move will cover monetisation features where creators directly charge their fans -- paid online events, subscriptions, newsletters and badges sold during livestreams, reports Engadget.

It does not apply to Meta's advertising-related revenue sharing features for Reels or other video products, the report said.

The CEO also announced several other monetisation updates for creators on the platform.

The company is expanding Stars, the company's in-app tipping feature, to more creators, and will open up its bonus programme for Reels to more users as well.

Meta is also expanding its support for NFTs on Instagram, which it began testing on Instagram profiles last month. Now, the feature will be available to more people, though Meta declined to specify exactly how many will now have access.

The company also plans to integrate NFTs into Facebook and Instagram Stories "soon," the report said.

--IANS

vc/shb/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Mark ZuckerbergFacebookSocial Media

First Published: Jun 22 2022 | 10:56 AM IST

Next Story