During this season of lockdown and working from home, we have seen the rise of Live videos from various creators, artists, fitness coaches and chefs.
Now Instagram is coming on board to help creators make money while they’re creating content. Justin Osofsky, Instagram’s COO reveals that the platform will share an “industry standard” 55% percent cut with creators, telling The Verge.
This monetization plan will introduce two new tools that are currently being tested with a selected group of users.
First, it’s ‘Badges in Live’ which will show up next to a person’s name throughout a live video.
Fans will be able to purchase Badges during a Live video to support a creator. Fans who have purchased badges in Live will stand out in the comments and unlock additional features, including placement on a creator’s list of badge holders and access to a special heart.
Badges will begin testing next month with a small group of creators and businesses. The tool will then roll out across the US, Brazil, UK, Germany, France, Italy, Turkey, Spain, and Mexico in the coming months.
Viewers will be able to choose from badges priced at $0.99, another for $1.99, and one more for $4.99.
Secondly, it’s IGTV ads. Yes, this will be adverts placed for IGTV videos. This feature will roll out starting this week to support creators’ investment in IGTV by sharing advertising revenue with them.
IGTV ads will initially appear when people click to watch IGTV videos from previews in their feed. The video ads will be built for mobile and up to 15 seconds long. Additional features to this such as the ability to skip an ad will be tested through the year.