Facebook on Thursday announced expanded options for users to monetize content with a focus on short-form videos and broadening subscription-based features.
The update will allow creators to monetize videos as short as one-minute long, expanding on previous restrictions to monetize videos three-minutes or longer. It follows the rise in popularity of TikTok, an app that limits users to posting 60-second videos.
Facebook said it will also be testing the ability for content creators to monetize their Facebook stories through ads that look like stickers. The initial test is “small,” but Facebook said it is looking to expand the option to more creators in the future.
The company will also be investing $7 million over the next few months in its “Stars” feature, according to the announcement. The feature allows users to tip content creators during live videos.
Facebook said it is testing the use of Stars for short- and long-form recorded videos.
Facebook will also expand its online event and fan subscriptions features, which were launched over the summer. The event feature will be expanded to 24 more countries, and the fan subscriptions to 10 more countries.
Facebook said it will not collect revenue from the paid online event or fan subscriptions features through “at least August.”
The updates to expand monetized content come amid the rising popularity of platforms such as TikTok that prioritize creators.
Similarly, last month Twitter said it is exploring a “Super Follows” feature that would allow users to charge followers for exclusive content.