Instagram is launching new tools aimed at boosting revenue for creators by adding badges to live videos and advertisements on IGTV.
Instagram creators who have used the platform to launch full-time careers have historically relied on indirect sources of revenue like branded content and merchandise sales to support their livelihoods. Now, the Facebook-owned social platform is rolling out new ways for creators to make money directly from their content on Instagram Live and IGTV.
First, starting next month, Instagram will add the ability for users to purchase “badges” during Instagram Live videos (pictured above) to show support for their favorite creators, similar to Twitch’s Cheer animated emoji, explains a new press release from Instagram.
For instance, a badge might appear as a small heart symbol next to a person’s name. That person’s comments will show up more prominently, and influencers will see a list of all badge holders who have donated to them. Badges will be priced in three different tiers — at 99 cents, $1.99 and $4.99 — and in the initial test period, Instagram will share all of that revenue with the creator partners.
Second, Instagram next week will begin running ads in IGTV, the platform’s long-form video destination, with at least 55 percent of the advertising revenue shared with creators. Initial brands that will be running IGTV ads include Sephora, Puma, and Ikea.
“Providing a variety of monetization tools is crucial in order to support all creators on Instagram, from emerging digital stars to established entertainers and everything in between,” said Instagram COO Justin Osofsky. “We’re excited to add these two new revenue streams to the mix of tools for creators to help them generate additional income to fuel their work.”
Badges will roll out to a few countries in the coming months, including the US, UK, Brazil, Germany, France, Italy, Turkey, Spain, and Mexico, and creators interested in early access to the feature can register their interest here.