Facebook’s subscriptions feature has been updated. The new subscription will allow creators to generate revenue from their fans and avoid paying 30 percent cost on in-app purchases. A new link will be included that will let the people pay for in-app creator subscriptions via the desktop version of the social media platform
On announcing the feature the company’s CEO Mark Zuckerberg said, “As we build for the metaverse, we’re focused on unlocking opportunities for creators to make money from their work. The 30% 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.”
According to him, when people subscribe to the promotional link, creators will keep all the money they earn excluding taxes. Also, creators will have more ownership of their audience and they can download the email addresses of all of their subscribers.
Facebook is also launching a bonus program that pays creators for each new subscriber they get as part of its $1 billion creator investment announced this summer. To help creators grow their subscription businesses, Facebook will pay creators a bonus of $5 – $20 for every new subscriber they get from now until the end of 2021. This will allow the creators to earn a bonus of up to $10,000 over the course of the program. It’s invite-only in all 27 markets where the Subscriptions feature is available to creators.
Creators must continue to forfeit 15-30 percent of their earnings to companies such as Apple whenever people purchase subscriptions through the Facebook app on mobile devices.
With subscriptions, the audience can not only support the creators with recurring monthly payments. In return, they can choose to provide additional benefits like subscriber-only Lives, special discounts or a subscriber-only Group to the fans.
People will be directed to the website to complete their Subscriptions purchase using Facebook Pay. When people purchase Subscriptions from this website on the web or mobile, creators will be able to keep 100% of the money they earn, excluding taxes. Creators can find their personalized promotional link in Creator Studio, which they can share with their audiences, including over email or text.
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