Facebook CEO Mark Zuckerberg said Tuesday the social network is working on new tools to help people who do creative work make more money, including a marketplace to match brands with creators.
Zuckerberg also said the company is building online shops so creators can sell items directly on the social media platform and a way for them to get a cut of the sales of products they’re recommending. The development of the new products underscores how social media companies are trying to fuel the creation of more content that keeps users engaged on their sites. Social networks also compete with one another to attract creators. Twitter has also been experimenting with new creator tools, including a “Super follow” feature that gives people access to exclusive content for a subscription fee.
“Our view is that if we help creators make more money on their content that will help a broader creator economy emerge,” Zuckerberg said in a chat on Instagram Live with Instagram CEO Adam Mosseri.
One way Instagram influencers make money is from advertising products from brands in their photos and videos. But Mosseri noted that companies tend to work with more well-known social media users so a marketplace could help connect people with a smaller following with a brand for sponsorship deals.
“I think historically Instagram specifically has done better creating value for creators who are already established and we haven’t done as well with … people trying to just get started,” Mosseri said. “I think that’s a big miss on our part. We’re trying to really pivot towards that.”