Meta Will Not Charge Commission From Creators on Instagram and Facebook until 2024

Meta CEO Mark Zuckerberg has stated that the company will "hold off on any revenue sharing" until 2024, extending his previous pledge to not charge a commission until 2023 by one year. According to Engadget, Instagram and Facebook creators will have another year to make money from the apps without Meta taking a cut.

According to Engadget, the move will cover monetisation features where creators directly charge their fans – paid online events, subscriptions, newsletters, and badges sold during livestreams. According to the report, it does not apply to Meta's advertising-related revenue sharing features for Reels or other video products.

The CEO also announced a number of other monetisation updates for platform creators. The company is expanding Stars, its in-app tipping feature, to more creators and will also expand its bonus programme for Reels to more users.

Meta is also expanding its Instagram support for NFTs, which it began testing on Instagram profiles last month. The feature will now be available to a larger number of people, though Meta declined to specify how many.

According to the report, the company also intends to integrate NFTs into Facebook and Instagram Stories "soon."