In a significant move for digital creators, Meta Platforms Inc. META’s Instagram is reportedly bringing back its cash bonus program, now extending monetization opportunities to include photo content. This development is poised to impact the creator economy and intensify the platform’s rivalry with TikTok.
What Happened: Instagram is reintroducing cash incentives for content creators, now including photo posts in addition to videos, Business Insider reported on Tuesday.
The “Spring Bonus” program, currently being tested by Instagram, rewards creators for engagement on various content types, including reels, photo carousels, and single-image posts. This initiative comes after the platform discontinued its Reels Play Bonus in March 2023. The new program offers a maximum of $30,000 over 30 days and is invite-only.
Available in the U.S., Japan, and South Korea, the Spring Bonus excludes branded or collaborative content and posts with watermarks from other platforms. Meme creators Jackson Weimer and Mike Potter of @grippingfoodwithforce have already started earning through this program, with estimated earnings of $70 and $58, respectively.
Instagram is also experimenting with a “Performance Bonus” for photo post engagement, similar to Facebook’s existing program. Additionally, the “Threads Bonus” pays for engagement on posts to Meta’s Twitter competitor. The eligibility details for these bonuses remain unclear.
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Instagram’s head, Adam Mosseri, hinted at the return of these bonuses in October, as the platform evolves to compete with TikTok, which has recently been promoting photo content to its users. Instagram’s strategic shift reflects its broader competition with TikTok, which extends beyond just video content.
Why It Matters: Instagram’s latest move to reintroduce creator bonuses comes amid a backdrop of discontent among creators, as reported in January 2024. Creators expressed frustration with the platform’s frequent updates and new features, which they felt were detrimental to their income. As a critical part of the advertising business, Instagram’s changes are closely watched by the creator community.
By March 2024, Instagram had staged a remarkable comeback, successfully fending off competition from TikTok and overcoming criticism from high-profile users like Kim Kardashian and Kylie Jenner. This resurgence was marked by increased app downloads and user engagement, signaling a potential shift in the social media landscape.
The reintroduction of creator bonuses, particularly for photo content, is a strategic move by Instagram to not only retain its current user base but also to attract new creators who may be looking for monetization avenues beyond what TikTok offers.
As of Wednesday, Meta Platforms Inc. META‘s stock closed at $506.74, reflecting a change of 1.88% from the previous close, with a 52-week high of $523.57 and a low of $207.13.
Image via Shutterstock
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