Instagram has announced a new subscription feature. Following the likes of Patreon and Substack, as well as Twitter’s Super Follow and Facebook Subscriptions, Instagram will soon allow creators to get paid for their content.
In a blog post, Instagram announced it is testing the new feature with 10 creators with more expected to join in the coming weeks. Current creators include Olympic gymnast Jordan Chiles, professional basketball player Sedona Prince, and actress Kelsey Cook.
Creators have eight different monthly price points: 99 cents, $1.99, $2.99, $4.99, $9.99, $19.99, $49.99, or $99.99.
US Instagram users can subscribe to these creators for access to exclusive content on Live and Stories. Creators will also see a badge next to subscribers to easily identify their most engaged followers.
Meta, the parent company of Facebook and Instagram, will not start collecting fees from creators until 2023 at the earliest. Although an exact revenue share hasn’t been set as of yet, Mark Zuckerberg, CEO of Meta, has said it will be less than 30 percent.
Adam Mosseri, the head of Instagram, said, ‘Creators do what they do to make a living, and it’s important that is predictable.’ He also added, ‘Subscriptions are one of the best ways to have predictable income – a way that’s not attached to how much reach you get on any given post, which is inevitably going to go up and down over time.’
Many social-media companies are investing heavily into the creator economy. Meta announced it will pay more than $1 billion to content creators in 2022.
Meta is providing incentives to join their platforms and, in turn, attract more users. As TikTok continues to dominate, Meta and other social media companies will have to adapt to retain and attract a user base.