Influencers Can Now Earn Through Instagram Directly
Instagram has finally decided to hop on the monetisation train for video content creators. Since its advent on the gram back in 2018, a major reason for the shortage of quality video content on IGTV, as opposed to platforms like YouTube, is the fact that there was no monetisation for creators. Besides tending to this, they’re also adding a ‘badges’ feature to Instagram Live where users can directly donate to their favourite content creators by buying heart badges.
IGTV has been working on monetising the content for creators for a few months now and screenshots of tests had been leaked on
According to Instagram:
“Starting next week, we are introducing ads in IGTV, our long-form video destination. IGTV ads will initially appear when people click to watch IGTV videos from previews in their feed. The video ads will be built for mobile and up to 15 seconds long. We’ll test various experiences within IGTV ads throughout the year – such as the ability to skip an ad – to make sure the final result works well for people, creators and advertisers.”
According to Bloomberg, Instagram made about $20 Billion from ads in 2019 which surpasses the figure of $15 billion made by YouTube in 2018. Those in the initial testing program received an industry standard of 55% of the total ad revenue generated by their content.
Along with this, heart badges being introduced to Instagram Live will make it a much more popular live streaming platform. The badges act as donations that go directly to creators and show up as hearts next to the donors’ handles in the comments allowing the broadcasters to give them a shoutout like in YouTube’s SuperChat.
“Badges will appear next to a person’s name throughout the live video. Fans who have purchased badges in Live will stand out in the comments and unlock additional features, including placement on a creator’s list of badge holders and access to a special heart.”
Different types of heart badges will be made available for purchase and their prices will range from $0.99 for one heart and $4.99 for three hearts. At launch, users will only be allowed to purchase one heart and all of the donations will go to the creators but Instagram will be taking its cut in the future.
Instagram witnessed a 70% spike in live-stream viewership since the lockdowns due to COVID-19 as people tend to use social media a lot more while stuck at home in an effort to connect with the outside world. Given the increase in user traffic, Instagram wants creators to broadcast more and more content and the badges can act as a great incentive for them.
These two updates can prove to be quite significant, especially if they manage to lure top creators and celebrities to use Instagram as their go-to streaming platform. This can result in a lot more content flowing through the platform which will increase viewership and in turn lead to more time spent in-app and thus bring in more advertisers. This makes it a great time to consider IGTV as a video sharing platform as it is set to become much more relevant in the near future and early adopters can enjoy a head start.
Instagram is testing IGTV ads with a small group of content creators in the USA in order to test features like skipping ads and to optimise the experience for both consumers and advertisers. Live badges, on the other hand, will be tested in the upcoming month and you can apply to be considered for early access by filling out a form.