Facebook to Pay Creators $1 Billion Through 2022

Facebook CEO Mark Zuckerberg on Wednesday announced the company plans to pay out $1 billion through 2022 to users who create content for its Facebook and Instagram social networks.

This is considered to be one way the company hopes to attract influencers to create content for its platforms as it competes with other popular services, such as TikTok.

“We want to build the best platforms for millions of creators to make a living, so we’re creating new programs to invest over $1 billion to reward creators for great content they create on Facebook and Instagram through 2022,” Zuckerberg wrote on Facebook.

“Investing in creators isn’t new for us, but I’m excited to expand this work over time,” he added.

Moreover, the platform stated that the company plans to roll out new bonus programs between now and the end of the year that will pay out creators for hitting specific milestones.

Among the upcoming bonus programs is a Reels Summer Bonus which will be launched in the coming weeks and pay U.S. users who create great Reels content for Instagram.

Instagram launched Reels, short-length video feature, in 2020 to compete with content from TikTok.