Meta has announced that it will end the financial incentive program for Reels, makers of short-form music videos for Facebook and Instagram, under which the company pays creators a monthly payment as views of their content increase.
A spokesperson told Meta Business Insider that the company is developing a range of new tools and solutions to help creators achieve a steady stream of revenue.
Reels Play Bonus is one of the biggest ways video content creators make money on Facebook and Instagram. Since the launch of the program in the summer of 2021, some publishers have reported record profits of $35,000 in one month, while others have seen an even larger drop in their profits.
The program is available to Facebook publishers worldwide, but only for Instagram in the US. The company claims that it is committed to providing benefits to everyone who has signed up for the program within the past 30 days.
Mita launched the incentive program as part of the company's efforts to promote the short music videos it released nearly three years ago to compete with TikTok and set aside $1 billion to pay creators in 2022.
However, Facebook and Instagram video creators still have different ways to monetize the content they post. They can promote commercial products by advertising in music videos, subscribing to their channels, or contracting with companies.
It's worth noting that Mita isn't the only company reconsidering its creator financial incentive program, as YouTube has ended a similar program on its short-lived video site and replaced it with sharing ad revenue with short-lived publishers. . TikTok has revamped its incentive program to pay creators of longer-form videos more.