Social media app Instagram rolled out a number of tools to help content creators make money off videos they post on the network. This update, released on Wednesday, will now let some users sell “badges” to their fans during live video broadcasts.
The app will also introduce IGTV, giving 55 percent of revenue to the creators of the videos. These updates will go through some early testing, with personalities like Eitan Bernath and Salice Rose selected to participate in this phase of testing.
Facebook introduced similar changes to its app in 2018 to help influencers capitalize on their growing fan bases. Instagram’s Chief Operating Officer, Justin Osofsky, said that the badges will be sold at three different price points, $0.99, $1.99 and $4.99. The company has also made it known that it will not receive a portion of sales from these badges when it launches.
Osofsky stated that Instagram has no plans yet to offer subscriptions for exclusive content. With the social media app gaining more relevance, it will be interesting to see how well these updates will serve users of the app-influencers and their followers- better and what it may evolve into in the coming days.
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Staff Writer