By: Madeline Schneider
As the creator economy expands, many individuals seek effective platforms to profit from their content. When social media users think of content monetization, they most likely immediately think of YouTube, however many emerging platforms are slowly dipping into this business.
Instagram has been one of the most popular social media platforms, but its monetization strategy for users has expanded recently. Influencers can monetize their accounts by promoting brands, selling products, and creating sponsored content. By selling products, creators can choose whether to sell them using the Instagram Shop or by promoting other brands’ products through commissionable links. Instagram influencers commonly collaborate with brands to promote their products or services. Instagram influencers prefer this type of income stream because they can make their prices for collaborations and posts. Instagram also introduced Instagram Creator Marketplace, a platform allowing brands and creators to connect and collaborate on branded content and partnership ads.
TikTok offers many ways to generate income, but perhaps the most beneficial is the TikTok Creator Rewards Program. This program allows creators to earn money based on video views and engagement, collaborate with brands through the Creator Marketplace for sponsored content, go live to receive virtual gifts from viewers and sell products directly through TikTok Shop. With this being said, it is essential to note that TikTok users can only join the Creator Fund if they meet specific criteria like follower and viewership requirements. Some influencers have found the TikTok Creator Fund payouts too low compared to the effort they put into complying with the eligibility criteria. Like Instagram, many content creators have chosen not to join the Creator Fund and instead make money through sponsored posts for which they decide the prices.
Surprisingly enough, Snapchat seems to be making a comeback, especially in monetization. To attract influencers, Snapchat offers incentives, acknowledging their influence over audiences who stay connected across platforms. The creator program enables influencers to earn based on posting frequency, turning Snapchat into a space for authentic, engaging content. As social media platforms compete for creators, influencers now have more opportunities than ever to monetize their content beyond traditional platforms.
