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Facebook set to offer creators new way to earn money: All you need to know
When people subscribe using this link, creators will keep all the money they earn (minus taxes).
The parent company of Facebook, Meta recently announced new plans for creators as it prepares to build Metaverse. In a Facebook post, Meta CEO Mark Zuckerberg said that as "we build for the metaverse, we're focused on unlocking opportunities for creators to make money from their work."
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"The 30 percent fees that Apple takes on transactions make it harder to do that, so we're updating our Subscriptions product so now creators can earn more," Mark Zuckerberg posted late on Wednesday. He said that the company is launching a promotional link for creators for their Subscriptions offering.
"When people subscribe using this link, creators will keep all the money they earn (minus taxes). Creators will have more ownership of their audience -- we're giving the ability for them to download the email addresses of all of their new subscribers," Zuckerberg explained.
"An investigation by The Financial Times has found that Snapchat, Facebook, Twitter, and YouTube lost around $9.85 billion in revenue after Apple introduced App Tracking Transparency (ATT) policy last year. Advertisement technology company Lotame estimated that the four tech platforms lost 12 per cent of revenue in the third and fourth quarters, which roughly translates into $9.85 billion," the news agency IANS reported.
Zuckerberg said that Meta is also launching a bonus programme that pays creators for each new subscriber they get "as part of our $1 billion creator investment announced this summer".
The new iOS App Store policy requires apps to ask permission to track users' data. The policy went into effect in April, barring apps from tracking users if they opt out. Facebook lost the most money "in absolute terms" when compared to other social platforms due to its huge size.
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