Instagram has recently introduced creator monetization, and if you ask us – it’s not a moment too soon. The creative world is thirsting for details, but they are yet to be disclosed. Here’s the scope.
As May came to an end, Instagram announced the release of two new features in an initiative to support creators on the platform. Badges and IGTV ads let Instagrammers earn money through donations during live streams, and from running ads on IGTV. With a 70% increase in live stream views from February to March, along with the uncertain times being upon us, the news couldn’t have come at a better time.
A new way of showing love and support
The pandemic has truly put the spotlight on the digital world, from zoom meetings to innovative digital content and TikTok dances. To give followers and fans a way to participate and show their support, Instagram is now introducing badges that viewers can purchase during a live video and thereby donate to their favorite creators.
The purchased badge will show up next to the viewer's name throughout the live stream and make them stand out from the crowd. It will also give them access to additional features, such as a ‘special heart.’
A testing period with a small group of creators and businesses has already begun. The features are planned to be rolled out in countries like the US, Brazil, UK, and Germany over the coming months. And for those who simply cannot wait for the update, there’s a way to apply for early access here.
How to grow your personal brand
For creators who want to show more of their creativity and connect with their viewers on a deeper level, IGTV is a great way to do it. With Instagram introducing ads to IGTV, a new way of earning money on your passion and hard work has suddenly arisen – an evolution we fully stand behind.
The ads will initially appear when people click to watch IGTV videos from previews in their feed. The video ads will be built for mobile and last for up to 15 seconds. Although they haven’t mentioned what percentage of ad revenue will go to creators, one suggestion is the split will look similar to what YouTube offers the majority of its creators with 55% going to the creator.
Throughout the year, Instagram will also test out tweaks of these features, such as skipping ads, to work out a result that works well for all parts. Make sure to stay tuned for more information to come. Until then, let’s go and create some great content!
Are you still craving more details? Check out this video with Epidemic Sound ambassador Dominik where he digs even deeper into these new updates.