About Instagram reel bonuses ?
Instagram continues to face up to TikTok and look for ways to capitalise on the video creator economy. In November 2021, it has been reported that in order to incentivise short-form posting on Reels, the Meta-owned brand is upping the ante on its Reels summer bonus program.
Announced in July as part of its $1bn investment in creators, the program rewards eligible influencers and businesses for hitting certain milestones using in-platform monetization tools. Now, the bonus program has expanded.
The Reels Surprise initative aims to offer up to 150 US-based creators per week with up to $10,000 per video. To be eligible for the pay out, creators must be over 18 and adhere to Instagram community guidelines and partner monetization policy.
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Instagram is urging creator to post ‘entertaining’, ‘fun’ and ‘inspiring’ Reels to increase their chances of winning the contest. Those selected for a bonus will be notified within the app, where they will be required to set up a professional dashboard. The site also offers creators online tutorials on how to make their content meet these requirements, such as using transitions, AR effects, Remixes and voiceovers.
According to Tech Crunch, creators are unclear on which factors determine the exact sum of money and have expressed concerns over glitches on the app. On a Reddit thread, one user was entitled to a maximum $35,000 bonus for a video which received over 58m plays. However, the site reported that a streamer with 800 Instagram followers received the same bonus as another creator with 24,000 followers – the pattern is ambiguous at best. Instagram explained that the bonus program is a work in progress, claiming: “We’re continuing to test payments as we roll out to more creators, and expect them to fluctuate while we’re still getting started…We’ve designed bonuses so that we can help as many creators as we can in a way that is achievable and drives meaningful earnings. Our goal is for bonuses to become more personalized over time.”
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YouTube Shorts has also demonstrated its intent to attract influence by paying TikTokers and other global content creators to post content on its platform. YouTube dedicated $100m to the cause over the next 18 months in a bid to keep up with TikTok. Meanwhile, Snapchat has also entered the ring, offering creators financial incentives via its Spotlight Challenges, revealed in October 2021. There is certainly a war being waged within the creator economy, particularly within the short form space that can only be attributed to the astronomical success of TikTok over the last year. Social networks are well prepared to put their hands in their pockets to lure influencers away from the TikTok community space and increase short-form content production, and hopefully, their own bottom line.
