Zuckerberg teases new tools for creators to make money on commerce
Facebook CEO Mark Zuckerberg said in an Instagram Live chat with Instagram CEO Adam Mosseri on Tuesday that the company is building new tools to help creators make money off of commerce.
Why it matters: Facebook is just starting to venture into the creator economy. In order to continue to attract creators, it needs to help ensure there are better ways for creators to get paid.
Details: In the live chat, Zuckerberg said Facebook is creating three new tools for creators to make money via commerce.
- Shops: Last year, Facebook launched a shopping feature that makes it easier for small businesses to set up online stores.
- Affiliate: Zuckerberg says Facebook is looking into building an affiliate and recommendation marketplace. The goal of this new product, which Facebook is testing, is to help creators make money for the products they recommend.
- Brand Marketplace: Zuckerberg says Facebook is looking into creating a marketplace to match up creators with brands. Mosseri said a marketplace will help the company facilitate more branded content partnerships in a responsible way. "We would love to help creators vet brands," he said.
The big picture: Both executives conceded that Instagram hasn't focused enough on helping smaller creators build audiences and make money. That is a priority moving forward. Zuckerberg says he's trying to figure out "how we help create a creator middle class."