Funds for creators

Business

NEW YORK: Facebook will spend US$1 billion (K3.51bil) on social media creators through the end of 2022 in a fight for top talent announced in a week when TikTok became the first rival mobile app to hit three billion global downloads.
Facebook’s investments will include bonus programmes to pay creators who hit certain milestones on its apps, including photo-sharing service Instagram and fund users to produce content, the company said.
The social media giant is opening its wallet to woo creators with major fan followings from platforms like YouTube and short video app TikTok. – Reuters