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Facebook will be taking a cut of money headed to video creators.
Facebook is giving videos on its social network more ways to make money, pulling inspiration from other platforms to let you throw cash at your favorite video creators in the form of subscriptions or tokenized "stars" that pay them a penny. It's also going to start taking a cut of the money that superfans send to creators in paid subscriptions.
Facebook - Developments - VidCon - World - Conference
Facebook announced the new developments ahead of VidCon, the world's biggest conference for online video creators. VidCon runs Wednesday through Saturday in Anaheim, California.
The approach follows a proven Facebook strategy of borrowing features and tools that smaller social networks have rolled out to popular appeal. In the last three years, Facebook made big investments in video as a central part of its service, aiming to eat some of YouTube's lunch and take a bite of the television ad dollars migrating to digital video. But some of its efforts, like broadcasting original scripted series, have failed to break through to mass audiences.
Facebook - Numbers - People - Money - Platform
Facebook didn't provide any hard numbers about how many people are making money on its platform with any of its early-stage money-making tools like ads and subscriptions. Generally, tens of thousands of pages are using ad breaks in videos to make money, the company said. The number of pages earning $10,000 a year with ad breaks has grown since Facebook began testing them about a year ago, but the company wouldn't provide specifics.
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(Excerpt) Read more at: CNET
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