Content creators, pay attention! Instagram is offering huge sums of money for widely viewed video posts on its Reels. Meta (Facebook) has budgeted $1 billion for the program through 2022 when CEO Mark Zuckerberg launched Reels in July.
According to published reports, content creators could receive up to $35,000 if their videos are viewed 58.31 million times in a month. On the low end, smaller creators are offered anywhere from $600 to $1,000. No fixed formula is apparent about the ratio of payment amounts, views, and follower numbers, as the program is in its early stages and still being explored.
Other video-sharing platforms also offer incentives to creators. YouTube said in August that it is paying as much as $10,000 a month for popular videos, while Snapchat recently launched Spotlight Challenges, with rewards ranging between $1,000 and $25,000.
The surge in bonus programs focused on short videos could be a result of TikTok’s skyrocketing popularity. In September, TikTok reported breaching 1 billion monthly active users.