Facebook’s payout interface for creators will show how much Apple and Google charge from them
Ahead of Apple’s Worldwide Developers Conference (WWDC), the CEO and founder of Facebook announced the new payout interface for the creators. The new payout interface will let the creators know about how much tech giants such as Apple and Google charge them from their revenue generated in the form of fees and taxes. The announcement was made amid the intense scrutiny of Apple’s Store by lawmakers. Zuckerberg also used his announcement of a new interface and charging fee to jab at Apple. To recall, Apple kicks off its WWDC on Monday.
Moreover, the California-based social media giant added various new updates in the last week to help content creators for monetization. One of the features for monetization includes creators’ access to Facebook’s products without fee until 2023. Mark Zuckerberg claimed that the social networking giant will not take any cut from the revenue generated via its platform(s). Therefore, the generated revenue from paid events, fan subscriptions, badges, and Facebook’s upcoming independent news product(s) won’t be shared until at least 2023. Before this announcement made by Zuckerberg, the company announced that till 2021 its platform won’t cut any charges from the creators.
However, according to Facebook, whenever the company will be taking a cut from the payout of the content creators, it’ll be less than 30 percent as compared to other tech companies especially Apple. Currently, Apple is taking more than 30 percent from the affiliate products posted by the influencers or content creators. Facebook’s decision to not take any revenue generated from affiliate products from content creators because it wants to attract more users towards the platform. In a nutshell, the social media firm has bigger goals to have more users on its platforms than any other social networking medium.
After the new update, the creators on Instagram and Facebook will be able to earn extra revenue, when they have reached certain milestones such as going live with another account of business account or sponsor account. As per the reports, Facebook Inc. is also testing a new affiliate tool that will allow the content creators or influencers to share with their followers and earn commissions in return.