Facebook to allow content creators to generate revenue from one-minute videos

Facebook Inc will allow content creators on its platform to earn revenue from short-form videos via advertisements, the social network said on Thursday.

Facebook’s made the announcement in a blog which detailed the company’s plans to help creators make more money, as smaller tech rivals have been racing to attract famous social media personalities.

Facebook’s update could be an attempt to compete with TikTok on short form videos. Yoav Arnstein, Facebook’s director of app monetization, said the company is looking to further empower creators that generate short-form and live videos. The social-media company’s new ad program gives Facebook creators an easier way to generate money off their videos and makes the app more competitive with the revenue creators can generate on TikTok.

Snapchat owner Snap Inc has been paying $1 million per day to creators who make viral short videos on its feature called Snapchat Spotlight. Twitter recently announced it would launch “Super Follows,” which would let users charge followers for exclusive content.

Previously, Facebook’s monetization program catered to videos that had to be at least three minutes long and was invite only for live in-stream ads. The latest update will expand the number of users who will be able to make money off their videos on Facebook.

More creators can now qualify to earn ad revenue from live-streaming videos on Facebook, previously an invite-only program.

The social media giant said it would also give away $7 million in free Facebook Stars, which users can pay to creators on Facebook Live as a form of tipping.