Facebook launches monetisation programme to compete with TikTok, YouTube

'Creator Fast Track' programme gives eligible creators immediate access to Facebook’s content monetisation tools
A smartphone with Facebooks logo is seen in front of displayed Facebooks new rebrand logo Meta in this illustration taken October 28, 2021. — Reuters
A smartphone with Facebook's logo is seen in front of displayed Facebook's new rebrand logo Meta in this illustration taken October 28, 2021. — Reuters

Facebook has officially launched its new programme, named 'Creator Fast Track', designed to help creators grow on Facebook with guaranteed pay and increased content reach

Meta-owned social network shared its idea behind the new monetization programme that is to entice creators who have built followings on other platforms to start posting on Facebook. Instead of starting from scratch on a new platform, creators can use the programme to gain increased reach on eligible Reels to help speed up their follower growth, and three months of guaranteed pay for sharing eligible Reels on Facebook

How much creators will earn from 'Creator Fast Track' programme?

In the 'Creator Fast Track' programme, creators can earn $1,000 per month if they have at least 100,000 followers on Instagram, TikTok, or YouTube, and $3,000 per month if they have over one million followers on any one of those platforms.

The programme offers eligible creators immediate access to Facebook’s content monetisation tools without requiring them to meet the platform’s usual criteria, such as a minimum follower count, allowing them to continue earning from posts.

Facebook Vice President of Creator Product Yair Livne said: “We wanted to be able to address creators’ concerns that it would be a hard road to onboard onto Facebook and build a community from scratch and build a following. So we set up this program to address that.

“You don’t need to create exclusive, brand-new content for this program to meet our initial posting conditions,” said Livne, adding that obviously, "we would love for you to bring your latest and greatest, but if you have a great back catalog of best hits, we would love to get that as well, and that qualifies for the terms of the program. So super excited about this. This is something that is addressing a lot of feedback that we’ve heard from established creators who we’ve tried to entice, or have been interested in coming on board.”

It is important to note that Facebook has plans to launch new metrics, which will help creators better understand their earnings on the platform without any issue.