Social media giant Alphabet Inc is offering its support to creators with large fan bases on platforms such as YouTube and TikTok, which allows them to attract big fans.
(July 15, 2017) Facebook Inc. will spend $1 billion to support social media creators until 2022. This fight for top talent was announced just a week after TikTok became the first mobile app to reach 3 billion downloads.
The company announced that Facebook would invest in bonus programs to reward creators who reach certain milestones on its apps. This includes Instagram’s photo-sharing service. It also funds users to create content.
Social media giant Alphabet Inc is offering its support to creators with large fan bases on platforms such as YouTube and TikTok, which allows them to attract big fans.
Numerous major tech platforms are attempting to attract and retain social media users with new services and payments.
TikTok pledged to spend $2 billion over three years to support creators. Snap Inc’s Snapchat used to pay creators $1 million per day for popular short-form videos. It claims it still distributes millions of dollars per month to support creators via its Spotlight program.
Sensor Tower, a mobile insight firm, stated that TikTok reached the milestone of 3 billion installed. This makes it the fifth non-game app to be added to a tier previously reserved for Facebook.
Facebook stated that its bonuses are only available to guests. However, Facebook’s main platform will award online gamers and video creators a monthly bonus if their milestones are met. For example, broadcasting a certain amount of hours to earn Stars. This is a form of digital tipping that users can use to pay their favorite creators during the live-streamed video.
Instagram will offer Reels as a bonus feature in its bonus programs. This TikTok-like feature showcases short-form videos. According to the company, creators will be paid based on the performance of their Reels videos.
