Why it matters: Facebook hopes to make enough money to keep developers on its operating system and trick others into rival services like Twitch, TikTok and YouTube. We've been told that new rewards programs are available immediately and more will be added at the end of the year.
CEO Mark Zuckerberg said in a recent Facebook post that they want to build the best operating systems for a living, so more than $1 billion to "reward 'creators for great content'" will be creating them on Facebook and Instagram As of 2022."
Facebook is no stranger to paying for content. Last year, the social media giants put a lot of pressure on their operating systems to bring music videos directly to their operating system, and launched the Facebook Gaming app to compete better. It was launched with YouTube Gaming and Twitch.
Facebook said in a separate press release that the new app will reward developers of all kinds, especially those who are just getting started. The program specifically includes new award programs that pay eligible content creators to reach specific milestones while using the company's creative tools and generate revenue, which will evolve over time. First opportunities are now available (by invitation). p>
Facebook also helps fund others to produce their own content.
Interested parties are encouraged to visit the Money Tools section of Facebook for more information and to register.
Facebook hopes a billion dollar investment will push creators into their operating systems