Exciting News for Nigerian and Kenyan Creators: Meta Monetization Program Coming in June 2024
Meta is rolling out monetization features for Instagram and Facebook in Nigeria and Kenya, offering creators exciting opportunities to earn from their content.
Here’s what you need to know to benefit from this upcoming program:
1. Monetization Features:
- In-stream Advertisements: Short video ads will appear between Stories or during videos longer than 2 minutes.
- Earn Badges/Gifts through IG Live: Viewers can purchase badges costing $0.99, $1.99, or $4.99, displaying heart symbols next to their comments.
- Instagram Shopping: Creators can tag products in their posts and Stories, allowing users to purchase directly from the platform. Creators earn from affiliate sales.
2. Eligibility Criteria:
- Creators must be 18 years or older.
- Maintain a professional Instagram account with a minimum of 10,000 followers.
- Content must meet specific view thresholds to qualify.
- Compliance with Meta’s community guidelines is essential.
3. Setup Steps:
- Connect your account to Meta Pay, linking a payment method such as a debit card, credit card, or PayPal account.
4. Tax Implications:
- Creators should be aware of tax implications in their respective countries. For instance, Kenya imposes a 3% withholding tax on earnings, while Nigeria applies a 1.5% tax.
While the program’s framework draws from experiences in South Africa and Egypt, adjustments may be made for the Nigerian and Kenyan launch.
This initiative is a significant step forward for Nigerian and Kenyan creators, providing an avenue to monetize their content and share in ad revenue previously inaccessible to them.