[ad_1]
Instagram is dangling cash to TikTok’s lucrative creators –as much as $35,000 a post — in a bid to woo them over to Instagram Reels, according to a report.
The pay bump comes as TikTok crosses the 1 billion monthly active users mark, and rivals like YouTube Shorts and Snapchat Spotlight are incentivizing creators to post on their platforms, too.
Earlier this year, YouTube established a $100 million creators fund for Shorts, while Snapchat has offered cash prizes for submissions to Spotlight challenges.
For the month of November, Instagram is offering some creators a maximum bonus of $35,000 if the creator’s Reels accumulate roughly 58 million views in one month, according to a document reviewed by Insider.
Reels are 30-second, entertaining videos that users post on Instagram, and unlike the 24-hour vanishing Stories, they have an unlimited lifespan.
Bonuses for Reels launched in July, after Mark Zuckerberg announced that Facebook, now called Meta, would be investing $1 billion into its creators fund through 2022.
At the time, Zuckerberg also unveiled of details about its “Reels Play Bonus Program,” which marked the first time that creators could get paid directly by Instagram for posting short-form videos.
Bonuses can vary greatly and Instagram hasn’t explained how the payouts are calculated, however. Since the program launched in July, payments jumped from $500 for 20,000 plays from users to $35,000 for 58.31 million views in November, Insider said.
Instagram did not immediately return requests for comment, but a spokesperson for its parent company Meta told Insider that it is “testing new ways to pay out creators so there may be fluctuations” as the program gets off the ground.
“The goal here is to help as many emerging creators as possible earn, and for the long term,” the spokesperson added. “In general, we’re working towards personalized bonuses, where the bonus amount and number of plays allows for the creator to earn meaningfully in a way that is attainable and transparent.”
[ad_2]