When Facebook launched a new website and app for creators last year, they made it pretty clear that they were ready to compete for influencers in the original video creation space (aka: watch out, YouTube). On Monday, the social media platform announced even more tools for creators, include two new initiatives that will enable influencers to monetize their content.
To start with, Facebook is trialing a subscription service that would give fans access to exclusive content from their favorite creator for $5/month. As of now, Facebook has not announced any plans to take a cut of this subscription fee, so the bulk of it--minus the standard cut of in-app purchases that Apple or Google charge--will go directly to the influencer.
What's fascinating about this move is that it's putting the onus on Facebook users (all 2.1 billion of them!)--not advertisers--to fund influencer content. Though sites like Patreon have championed this model for some time, this is a paradigm-shifting move coming from a content platform.
This is far from the end of #SponCon, though! Facebook is also launching a second tool that will help creators get paid--and that will help brands find target-right influencers to sponsor.
Creators will be able to set up a portfolio highlighting their area of expertise, and brands will then be able to search a comprehensive creator database to find the right influencers for their branded campaigns. If executed correctly, this seems like it can be a big win for brands who want to work directly with influencers, and for influencers who want to connect with more brands.
These tools are great news for brands who have added the content marketing trends of microinfluencers and video to their brand strategies.
Your move, YouTube.