Instagram has announced new ways for artists to make money through Instagram Live and IGTV.
In a blog post, the social media giants write: ‘We have always been committed to supporting creators as they turn their passion into livelihoods - because every creator is unique, that means providing a mix of monetization tools to help creators of all sizes, from the emerging to the more established.
‘Given the uncertain circumstances many are facing today, that commitment is more important than ever.’
With that, it has announced two new revenue generating opportunities on the platform.
The first is fan-purchased Badges which can be bought by viewers during a live video. Badges will allow artists and other creators to generate income from the content they’re already producing.
Fans who have purchased badges in Live will stand out in the comments and unlock additional features, including placement on a creator's list of badge holders and access to a special heart.
The second commitment from Instagram is the introduction of IGTV ads. They write: ‘IGTV ads will initially appear when people click to watch IGTV videos from previews in their feed. The video ads will be built for mobile and up to 15 seconds long. We’ll test various experiences within IGTV ads throughout the year - such as the ability to skip an ad - to make sure the final result works well for people, creators and advertisers.’
Speaking to The Verge, Justin Osofsky, chief operating officer of Instagram, said that the platform would be sharing what he calls an ‘industry standard’ 55 percent of ad revenue with creators.
Both additions will begin testing next month with a small group of creators and businesses.
Elsewhere on the Instagram blog, rules surrounding the use of music in videos has been clarified.
It reads: 'Our partnerships with rights holders have brought people together around music on our platforms. As part of our licensing agreements, there are limitations around the amount of recorded music that can be included in Live broadcasts or videos. While the specifics of our licensing agreements are confidential, today we’re sharing some general guidelines to help you plan your videos better.'
The guidelines are as follows:
- There are no limits on things like music in Stories, or traditional musical performances (e.g. filming a live artist or band performing).
- The greater the number of full-length recorded tracks in a video, the more likely it may be limited
- For that reason, shorter clips of music are recommended.
- There should always be a visual component to your video; recorded audio should not be the primary purpose of the video.
