The last few days are the Creator Week at Meta, with various events and panels and the announcement of new resources for creators, including expanded monetization opportunities and new equipment to simplify the creation and sale of NFTs. Among them is a long-awaited service: fan subscriptions.
Creators with 10K+ followers can now charge a monthly fee (between $0.99 and $99.99) to give paying members access to subscriber-only live streams, subscriber-only posts and stories, and badges that will appear in the comments of lives to help creators identify their supporters.
Instagram said it wouldn’t cut a portion of subscriber revenue at this stage but remember that any fees paid are subject to Google and Apple’s 30% fees for in-app purchases. In other words, any money raised is yours, which provides a new way for creators to earn money from their content on IG.
The subscription service first launched in January for select creators only and has now been made available to all eligible creators in the US, with trials rolling out to other countries.
Adam Mosseri, head of Instagram, talked more about this and other news in his latest video: