Instagram on Wednesday rolled out new tools enabling people to make money from the videos they post on the platform. As of now, Instagram already facilitates collaborations between businesses and popular users who get paid to promote products on their accounts. With the latest addition, Instagram will allow some of those users to sell “badges” to their fans while broadcasting live videos.
In addition to that, Instagram is also adding ads on IGTV just like it feeds ads on Facebook videos. Instagram will offer 55 percent of ads revenue to the video creators to run ads on their videos. Instagram has already selected some personalities like Avani Gregg, Eitan Bernath, and Salice Rose to participate in early tests for those tools. These personalities have got a great following on TikTok.
Justin Osofsky, Instagram’s Chief Operating Officer, said the badges will be sold at three price points – $0.99 (roughly Rs. 75), $1.99 (roughly Rs. 150) and $4.99 (roughly Rs. 378) – starting with several dozen users next month. The company will not take a portion of the sales at the outset.
Instagram was not yet planning to offer subscriptions for exclusive content. Also, the image-sharing platform was also not aiming to lure big-name figures to the platform with licensed original content, said Osofsky.
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