The word war between Apple and Facebook is still on. It started around September 2020, when Apple announced the updates for iOS 14.5. Implemented last April, iOS 14.5 enforced new privacy controls by asking the users’ permission to either opt-in or opt-out to data tracking. Such a change has greatly impacted ad targeting.
Last June, Facebook announced that it will not charge users for any shares on badges, fan subscriptions, and online events. The announcement was made with a note that they will not be like Apple. Today, Facebook updates its subscription products. This is again with a note that the changes are because of Apple’s 30% fee.
Subscriptions
First off, fan subscriptions are now called Subscriptions. It allows creators to monetize their content and pages through recurring monthly payments. The payment will be in exchange for exclusive access and special discounts on a subscriber-only Group or subscriber-only Live events.
Bonus Program
Creators can earn more revenue through a bonus program. Facebook will pay them $5 to $20 for every new subscriber until the end of 2021. A creator can earn up to $10,000 om this bonus program. It is initially available to 27 regions:
- Argentina
- Australia
- Brazil
- Bolivia
- Canada
- Chile
- Colombia
- Ecuador
- France
- Germany
- Hong Kong
- India
- Indonesia
- Italy
- Malaysia
- Mexico
- Netherlands
- Peru
- Philippines
- Poland
- Portugal
- South Africa
- Spain
- Thailand
- United Arab Emirates
- United Kingdom
- United States
Promotional Link
Facebook enables a promotional link to direct subscribers to a website where they can complete a subscription using Facebook Pay. The link aims to eliminate Apple’s 30% fee. As such Creators can keep 100% of their revenue on Creator Studio excluding taxes.
Facebook updates its subscription products on 03 November 2021.
Implications for Marketers:
The updates on Facebook’s subscription products are clear moves to retain creators. It is because the platform aims to win the engagement of younger generations back. Marketers can also take advantage of subscriptions on their Facebook pages. They can add up to a brand’s revenue and promote exclusivity among followers.
Reference: https://www.facebook.com/creators/earn-money-with-subscriptions
