Instagram will now pay bonuses of up to $10,000 to users who post videos on Reels; the short video platform of the Meta-owned social network, as a way to attract more content creators.
The platform has been trying to stay relevant in the face of competition especially as competitors like TikTok and others have been growing considerably.
As part of the Reels Play bonus program, Instagram stated that creators based in the US will now have the chance to earn $10,000 but the opportunity will be available in other regions with time.
The growing competition
Competitor platforms in recent times are beginning to incentivize users to post their short-form content on their virtual community. Snapchat is offering cash prizes for submissions to the Spotlight challenge.
Also, with an established $100 million creator fund for Shorts videos, YouTube Shorts has gotten even more aggressive with its tactics to sway popular creators to its platform especially as some TikTokers got offered $50,000 to post 100 YouTube Shorts over six months.
TikTok surpassed the N1 billion monthly active users mark and continues to grow, but the platform is up against long-standing giants like Google’s YouTube and Meta’s Instagram — and for those companies, throwing $10,000 at an individual user’s short video may not seem like a huge business expense.
As a drive to increase its monthly Reels Play bonus program, Instagram will discourage users from recycling content from TikTok and other platforms by deflating content that has watermarks from other social media platforms.