Instagram Monetization: Getting Started
Instagram is one of the top social networks for musicians. However, up until recently it was difficult for musicians to make money from the platform other than using it to forward their audience to links. Furthermore, Instagram monetization is a new way to create value on social media. Additionally, musicians can create another revenue stream for themselves online via Instagram. Most noteworthy, Instagram marketing has been made easier with new tools and resources that continue to become available. Now is a great time to start making money off of your work and to share new music. Let’s go over the basics.
Instagram Monetization: The Basics
Starting off, Instagram has added some new features that enable musicians to make their work eligible for Instagram monetization. With the use of badges, musicians are able to create digital badges and additional shared ad revenue via long-form video service with IGTV. Furthermore, fans watching a musicians IGTV are able to support content creators with the purchase of badges. Prices range from 99 cents to five dollars. The price point appears next to their name during the video. Additionally, fans that have purchased badges will stand out in comments and are able to unlock additional features.
Especially relevant, musicians reap the benefit of Instagram forgoing revenue from badges during the testing phase. Select creators will have the opportunity to begin testing over the next month. It has been established that over the coming months, creators in the US, Australia, UK, Brazil, Germany, France, Italy, and other countries will be able to use this service as well.
As part of the Instagram monetization opportunities, Instagram has announced it will share 55% ad revenue with content creators. These ads will be built for mobile devices with durations up to 15 seconds. This will roll out with select users as part of a beta testing period.
Lastly, Instagram has recently announced “Live Shopping”. This lets musicians and brands tag products during their live videos giving fans a chance to shop for items they see in videos. Keep an eye out for more Instagram monetization and Instagram marketing tools made available to maximize your revenue streams.