Facebook’s new tools for artists to boost their business
Facebook has now extended the 2 amazing methods for monetization of business for artists. These methods are Fan subscriptions & Stars.
The creators who meet the eligibility criteria laid by Facebook can make good money through fan subscriptions in different markets that include Brazil, Australia, Canada, the United Kingdom, the United States, Mexico, and Thailand.
The creators can be eligible only if their Facebook page has minimum of 10,000 people or more than 250 return viewers and 50,000 post engagements/180,000 watch minutes in the past sixty days.
The creators can view the Monetization section on Creator Studio to check if their page is eligible or not and also the pages have not utilized any one of the products of Facebook monetization still needs to undergo a review process.
Well, the way fan subscriptions function goes like this, a creator’s supporters would pay a fixed amount every month and would get special benefits in return for example exclusive live videos, content, or discounts.
The subscribers would also get a “supporter badge” that is displayed bedside their name in the comments they submit. Remember the supporter can erase it any time.
The creators also get monthly payouts after a minimum balance exceeds dollar 100. As per Facebook, the funds are released approximately sixty days after the end of every month.
On the other hand, Facebook also extended access for creators in Canada, Australia, India, Columbia, Italy, Indonesia, Spain, Mexico, France, Germany, Malaysia, Peru, New Zealand, Taiwan, Philippines, Thailand, The US, and the United Kingdom.
“Stars” is known to be the online tipping tool of Facebook, wherein the fans can purchase and give away to the creators via the comment section in the video.
“Stars are an amazing way to utilize live streams to make money and receive rewards for creating a genuine fan base says the blog post of Facebook.
Creators can easily plan a “Stars goal” which is displayed as an all-time overlay in all the videos. Facebook has also included extra Stars management features to Creator Studio.