Meta announced they are starting to test monetization services for a small number of creators in the United States (US) on the Instagram platform.
This feature allows users to pay for subscriptions to exclusive content and features created by creators who use the feature called Instagram Subscriptions.
In 2020 itself, Facebook also launched its Subscriptions service to enable “Content creators to build sustainable businesses supported by the support of their community.”
“Based on strong feedback from content creators, we are now ready to bring this business model to creators on Instagram,” Instagram wrote on its official blog.
Creators who install this feature can set a monthly price of their choosing. There are several types of subscriptions that Instagram offers to its creators. The first is Subscriber Lives for exclusive live broadcasts.
Subscription Types Offered
There are also Subscriber Stories for Stories and interactive stickers for subscribers only. And as well as Subscriber Badges; where creators can eat to see the subscriber badge alongside comments and messages.
Quoting from The Verge, the price will range from US$ 0.99 to US$ 99.99 per month. Creators can choose the price for their subscription.
Creators can choose a subscription price. Instagram said that the feature is only available to a group of creators in the US during the trial period. “We plan to expand access to more creators in the next few months,” the company wrote.
Welcomed By Mark Zuckerberg
“I’m excited to continue building tools for content creators to make a living doing creative work and soon to put these tools in the hands of more content creators,” he said.
Instagram CEO Adam Mosseri said the following subscription is one of the best ways for influencers; and content creators generate predictable income. Instagram’s co-head of product Ashley Yuki said they won’t cut revenue from creator subscriptions until at least 2023.