The idea behind the new monetization program is to entice creators who have built followings on other platforms to start posting on Facebook. Instead of starting from scratch on a new platform, creators can use the program to attain increased reach on eligible Reels to help speed up their follower growth, plus three months of guaranteed pay for sharing eligible Reels on Facebook.

Creators in the program can earn $1,000 per month if they have at least 100,000 followers on Instagram, TikTok, or YouTube, and $3,000 per month if they have over one million followers on any one of those platforms.

Image Credits:Facebook

The program also gives eligible creators immediate access to Facebook’s content monetization tools without requiring them to meet the platform’s usual criteria, such as a minimum follower count, allowing them to continue earning from posts even after the Creator Fast Track program ends.

“We wanted to be able to address creators’ concerns that it would be a hard road to onboard onto Facebook and build a community from scratch and build a following,” said Yair Livne, VP of Creator Product at Facebook, in a briefing with reporters. “So we set up this program to address that.”

Livne noted that if it takes creators longer than three months to build their audience on Facebook, the company will continue to support them. While the monetary bonus only lasts three months, Facebook will continue to boost their reach until the point where the company believes the creator has found their audience on Facebook.

“You don’t need to create exclusive, brand-new content for this program to meet our initial posting conditions,” Livne said. “Obviously, we would love for you to bring your latest and greatest, but if you have a great back catalog of best hits, we would love to get that as well, and that qualifies for the terms of the program. So super excited about this. This is something that is addressing a lot of feedback that we’ve heard from established creators who we’ve tried to entice, or have been interested in coming on board.”

As part of the announcement, the social network shared that the number of creators earning more than $10,000 annually on Facebook has grown by over 30% year-over-year. Additionally, 60% of Facebook’s total payout to creators last year went to reels, while the rest went to Stories, photos, and text posts.

Image Credits:Facebook

Facebook also announced that it’s going to introduce new metrics to help creators better understand their earnings.

The new “qualified views” metric tells creators the number of views on their content that may be eligible to earn money. Livne explained that there are several reasons a view may not qualify. For example, when someone watches just one second of a creator’s video before swiping away.

A new “earnings rate” metric will show approximate earnings per 1,000 qualified views, while the “non-qualified views” metric will break down why certain views don’t qualify and what creators can do to improve earnings from future content.