META REVEALS IT WILL NO LONGER PAY INFLUENCERS FOR REELS ON FACEBOOK AND INSTAGRAM.

Facebook and Instagram are undergoing a lot of changes, but this one is bound to leave a lot of people upset. Meta, the parent company which owns both social platforms, will no longer be paying influencers for their Reels and short videos.

According to Business Insider, the initial program launched in 2021 and saw people earning thousands of dollars for sharing their short-form content on both platforms. But it’s all coming to an end, the company announced, though there’s still a possibility they could reintroduce it in the future if Reels were to enter a new market.

In case you weren’t up to speed, some content creators were earning up to $10,000 in bonuses from their Reels, so it’s understandable why a lot of people are fuming at the sudden change. Furthermore, per Tech Crunch, it wasn’t strange for some IG users to make upwards of $35.000 a month from their videos that were generating millions in views. And while Meta was initially happy to reward content creators for attracting such enormous numbers, it’s believed the compan is trving to cut significant costs as it continues to focus its attention on the metaverse.

During a previous investor call for Meta’s Q4 2022, Mark Zuckerberg had already expressed how Reels were not earning the company enough money yet. The revenue Reels were generating in comparison to Feed was noticeably less, he said. “The next bottleneck that we are focused on to continue growing Reels is improving monetization efficiency or the revenue that’s generated per minute of Reels watched,” Zuckerberg shared. “Currently, the monetization efficiency of Reels is much less than Feed. So the more that Reels grows, even though it adds engagement to the system overall, it takes some time away from Feed and we actually lose money.”