Meta CEO Mark Zuckerberg announced that there will be better incentives for content creators on the platform, instead of charging 30% like Apple.
"We're focused on opening up opportunities for creators to make money on the platform from their work," Zuckerberg said on Facebook. "But the 30% fee Apple imposes on transactions makes that difficult. So we're updating the Subscriptions feature to enable developers to earn more."
CEO Meta, Mark Zuckerberg. Photo: Reuters
Subscriptions is a feature introduced by Facebook in June 2020, allowing creators to generate revenue from their fans. Payment is made monthly. The social network then said that Subscriptions was born to bring sustainable income to those who want to make money on the platform with their creativity.
Subscriptions are also part of Meta's goal of building a virtual universe metaverse - the new name of the Facebook company. According to experts, content creators will be an integral part of the social network's new ambitions.
According to Meta, the company will launch a custom promotional link through the Creator Studio platform for creators. Users when using the service will be directed to another buying and selling website and paying Facebook Pay. Developers keep all the money they earn from that transaction, excluding taxes.
Besides, Facebook also pays creators a bonus of 5-20 USD if they refer the link to others and register successfully. According to the company blog post, the amount is part of a $1 billion investment package for developers, announced earlier this year. In addition, Facebook is also rolling out some new tools, like "estimated earnings breakdown" to track payments in real time.
Zuckerberg's announcement also comes as Meta is in a privacy war with Apple. Earlier this year, Apple released a new iOS update, giving users the choice whether to allow third-party apps to track their ad code. This makes Facebook and other social networks operating under the personalized advertising model severely damaged. Facebook filed an antitrust lawsuit against Apple earlier this year.