It’s 2023 and #ICYMI, there has never been a better time than now to make money on social media.
Every social media app is competing to entice creators to make content on their platform by massively increasing the number of monetization programs and opportunities available for creators.
We’ve compiled a list of all the new ways you can make money as a creator in 2023 (you may even find some you never knew existed!)
In 2022 Instagram became an NFT marketplace, meaning you can now create and sell Digital Collectables directly in the app. To sell collectibles, you'll need to create a listing and share it on Instagram for the sale to activate.
Super Follows is a new feature on Twitter that is essentially subscriptions for access to exclusive content, allowing users to pay a monthly subscription fee of $2.99, $4.99, or $9.99 to see exclusive Tweets, plus your subscribers receive badges on their replies to your Tweets, helping them stand out in the conversation.
Reels Play is an invite-only bonus program, similar to a Creator Fund, that allows Instagram creators to earn money for the number of plays on their Reels. Essentially, the more plays your Reels get, the more you can earn. If you are invited, you will receive a pop-up notification and an invitation that appears within your professional dashboard in the Instagram app.
TikTok Shop, TikTok’s e-commerce platform, is a great way to monetize your TikTok following. You can start selling your own products through the platform, reaching your audience more directly without them having to leave the platform to shop.
Instagram recently announced a new gifting system for creators to earn revenue. Viewers can send virtual Gifts to creators on Reels by purchasing Stars within Instagram. Once a Gift is sent to a creator, the creator is paid out in revenue share from the Gifts that they have received.
Starting February 1st, YouTube Shorts will begin sharing 45% of ad revenue with Shorts creators through the YouTube AdSense program. This is a much higher payout than creators can receive from other short-form platforms, making YouTube one of the best platforms to monetize as a short-form video creator. To apply for the Partner Program and start receiving ad revenue, creators need to have at least 1,000 subscribers and more than 10 million views on Shorts over a 90-day period.
During an Instagram Live, viewers can purchase Badges - which cost between $0.99 and $4.99 - to gift to the creator to show their support. When a viewer purchases a Badge during a live video, a heart icon appears next to their name in the comments, their questions in that Live will be highlighted, and their name will appear on a list visible to the creator for up to 90 days.
Since Elon Musk took over the company in late 2022, Twitter has made a lot of big changes to entice creators to use the app, including launching the ability to upload long-form videos to the platform. Earn money on these long-form videos by enabling ads with Twitter’s Amplify Pre-Roll program.
For a monthly fee that you control, your Instagram Subscribers are able to access exclusive content, including private Chats, Reels, Stories, Lives and posts. To be eligible for Subscriptions you must have a professional account with at least 10,000 followers.
Currently still in testing in the US, TikTok Pulse, TikTok’s upcoming ad-revenue sharing program, will share 50% of its ad revenue with the top 4% highest performing creators each day.
Follow Genflow on Instagram for more tips on how to monetize as a creator.