Instagram is trying out IGTV ads and a few other tools that are said to be beneficial for the video makers on the platform. Content creators can simply earn money selling badges to viewers for $0.99 (per badge) during live video sessions. It’s much similar to Facebook, YouTube, or Twitch where viewers can show support to their favorite creators.
After viewers buy badges, these show up right next to their name, only if they comment during the live video, while creators can also know all the followers that support them.
Facebook has implemented the concept using ‘stars’ as viewers can purchase it during live videos to show love towards their favorite creators. Moreover, the platform also allows creators to use advertisements during live video sessions or come together with different brands.
Instagram is testing out badges with the US-based creators in the first batch while reaching out to other creators from Brazil, the U.K., Germany, France, Italy, Turkey, Spain, and Mexico in the following months. The company will not ask creators for a share in revenue but a few percentages of an amount later, which has not been revealed yet.
Instagram speaks about the launch stating an increment of 70% in Live video views from February to March 2020.
On the other hand, the company is testing out IGTV ads — this means advertisements in IGTV videos will show up as soon as the users click to watch one from previews in their feed. These mobile-based IGTV ads last for 15 seconds.
However, Instagram doesn’t sound confident on IGTV ad placement as it could ruin the whole IGTV video experience. Users could hate the way the ad comes across as soon as they click on to watch an IGTV video. But they could actually get a medium to skip ads.
The company will initially test IGTV ads among a few creators and advertisers that include the likes of Sephora and Puma in the United States while gradually giving out ads access to others. It even asserts to provide a minimum of 55% ad revenue to the creators.
Instagram has seen a surge in its IGTV as lockdown continues with brands that once left the platform returned during March and April. Justin Osofsky, COO at Instagram said, “Creators have different needs and ambitions. Providing a variety of monetization tools is crucial to support all creators on Instagram, from emerging digital stars to established entertainers and everything in between. 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.”
Instagram opens up about further monetization projects in the coming days. It will also ship its Live Shopping to even more creators soon.
