Facebook Offering TikTok ‘Creators’ Cash for Switching Over to Instagram’s ‘Reels’: WSJ
Facebook is reportedly opening its wallet to lure TikTok talent to an upcoming video service.
According to a new report from the Wall Street Journal, Instagram is offering financial incentives to some popular TikTok creators in a bid to make them use Reels, a video-music remix feature that the Facebook-owned platform plans to unveil next month in the US.
The article did not specify exactly how much in these bounties Facebook is offering, nor how many “creators,” in TikTok parlance, have been approached and accepted the offers.
Facebook did admit to making overtures to popular TikTok users. The Journal quoted Instagram spokeswoman Sarissa Thrower as saying that the site has “approached a diverse range of creators about Reels in several of the countries where it’s currently being tested. We remain committed to investing in both our creators and their experience.”
Like other social media influencers — such as high-profile Instagram users — TikTok creators frequently receive offers from companies to feature products, songs, and other materials in their videos. Some companies devote significant capital to this relatively new and nontraditional form of advertising.
None of the influencers who have been approached were named but one male user with millions of followers told The Journal he would likely join Reels after being approached with an offer.
Reels, which was unveiled in November 2019, is widely viewed as an attempt by Facebook to compete with TikTok, which is one of the most popular social media apps globally.
The Instagram feature will allow users to add music to video clips of up to 15 seconds, a set-up which proved a hit for TikTok.