Instagram is finally offering an opportunity for creators to earn money on their platform.
On Wednesday (May 27) the Facebook-owned app announced it will start running ads on IGTV videos.
Beginning next week, 15-second ads will play after people click the IGTV previews in their feeds to watch the full-length video.
Instagram has selected a handful of marketers and creators to participate in the early roll out.
Creators who participate in the program will receive 55 percent of the add revenue sold in their videos.
In addition to IGTV ads, Instagram will roll out badges for Live videos.
Instagram Live surged during the COVID-19 pandemic as many entertainers and celebrities began using it as a way to stay relevant and connect with their fans.
Fans will be able to purchase badges from 99 cents to $4.99 to append to their comments in an effort to stand out and be seen by the person hosting the Live.
During the trial period, creators will receive 100 percent of the revenue from the badges purchased. IG plans to implement a revenue share at a later date (see also: when they determine just how much money can be made from badges).
Live badges is just Instagram’s version of YouTube’s Super Chat feature.
Lastly, influencers will be able to use IG’s forthcoming shopping feature in their Live videos to tag products for people to buy directly from the videos.
Instagram did not outline how other creators will be able to sign up to monetize their accounts.
Once that information is released, I will be sure to update you!
Source: The Hollywood Reporter