Instagram and Facebook developers will receive creator commissions until 2024 –

Meta CEO Mark Zuckerberg said that Instagram and Facebook will start cutting developer revenue in 2024, a year later than originally planned.

Two social platforms will receive promotional offers such as fan subscriptions, paid events, badges, and the company’s newsletter platform and Substack’s competitors’ newsletter, where creators currently keep total revenue from these platforms. While Meta has not disclosed what percentage of the revenue it will eventually receive, Zuckerberg previously said it will be less than 30%.

The executive also said that Instagram and Facebook will expand the Reels bonus program to more developers and allow them to monetize their short videos on both platforms. On Instagram specifically, Zuckerberg said the company is testing a creator marketplace that allows brands and creators to interact through sponsorship and other business opportunities, a service that takes pages directly from TikTok and offers its own marketplace for sellers and creators.

Developer monetization updates can help Instagram and Facebook developer goodwill as the company faces stiff competition from competitors like TikTok and YouTube. The announcement also comes the day before Meta heads to VidCon, Anaheim’s premier four-day event for influencers, and is expected to greatly popularize its Reels and VR offerings among attendees.

“We are moving towards a future where more people can do creative work they enjoy, and I want our platforms to play a role in that,” Zuckerberg wrote in a Facebook post Tuesday, announcing updates for creators.