Facebook is working hard to compete with platforms like YouTube and Patreon in attracting the best online content creators. The social media giant is testing a number of innovative strategies designed to enhance the earning potential of content creators on its platform and promote seamless connection with fans around the world.
Facebook is now offering a new dedicated Creator app. The app was first launched in November last year for the iOS platform and the Android version is expected to be released very soon. In addition to this, Facebook has started a new closed beta program that allows social media stars to work closely with Facebook in developing new features and ideas for the platform.
One key feature that has already come up thanks to this program is quite exciting. Content creators on Facebook will have a leaderboard for their most engaged fans. A special badge will be attached to the fans’ comments for everyone else to see. Facebook thinks that such a feature could help enhance engagement with content on its platform and provide more incentive for content creators to use Facebook.
Facebook is also trying brand new monetization options. The social media giant will allow some of its users to sign up for a monthly subscription to their favorite content creators. Users who subscribe will be able to access exclusive content from the creators and a fan badge. The idea of the badge is largely inspired by Patreon. Fans will have to pay $4.99 per month for the subscription. Facebook says that it will not charge any commission for the service during the testing period.
Unlike Patreon where content creators are given the freedom to choose their own subscription fees, Facebook has decided to offer a general pricing system. Although there are some content creators on platforms Patreon who charge subscription fees of as low as $1 per month, many experts agree that $4.99 is fair enough for the user and the creators. However, the company says that it will introduce custom pricing in the future once the current beta testing is finished.
Meanwhile, Facebook has created a tool that allows creators to display a portfolio of their best content. The tool will also connect the creators to businesses for branded content and sponsorship deals.
Content creators who want to join the beta program can sign up online. The idea behind all these tools is simple. Facebook wants to maximize earning potential for its content creators. The company feels that this will give it an edge over other platforms.
Attracting the best content could be a huge advantage for Facebook and its fan base. However, the strategy is still under testing and a lot can happen in the next few months. It’s not yet clear how content creators will react once the company starts taking its cut when all these features officially launch. Nonetheless, this is a good step for Facebook.