Instagram’s own video hub, IGTV has been active since one and a half years and until now, the video creators were not paid by the app. But now, Instagram is working to let these creators monetize their content. The impending changes were reported by the engineer Jane Manchun Wong after which Facebook confirmed that they are testing a partner program through which the IGTV creators can earn money by running ads on the platform through their contents.
Jane Manchun Wong’s tweets on February 7, 2020, says that:
“Instagram is working on IGTV Ads to let influencers monetize their content by running short ads on their IGTV Videos”
“Facebook confirmed IGTV Ads for Creators in a statement:
We continue to explore ways to help creators monetize with IGTV. We don’t have more details to share now, but we will as they develop further.”
Alexandru Voica, Facebook’s EMEA communication manager replied to these tweets saying: “ We continue to explore ways to help creators monetize with IGTV. We don’t have more details to share now, but we will as they develop further”.
Much details of this are unknown but the program is likely to be similar to that of YouTube where the creators can monetize their contents by YouTube’s own partner program. YouTube requires the partners to have at least 4000 watch hours in the last 12 months and also more than 1000 subscribers to their channel to monetize their videos.
Facebook, the parent company’s criteria for monetization is that the pages registered as business accounts should have a minimum of 10,000 followers and 30,000 video views for in a 60 days time period. Although Instagram runs ads inside the stories and feeds of the users, the IGTV creators are getting to make money for the first time. Insta had earned an ad revenue of $20 billion last year.
It is expected that the content on Instagram IGTV will become more competent now because the creators will get money through them. IGTV might now become good enough to compete with Tik Tok and other video apps.