Instagram will reportedly allow creators to monetize their content on the platform through a new subscription service, similar to Patreon.
The Meta-owned company has updated the Instagram app to include a reference to Instagram Subscriptions, with the ability for creators to charge anywhere from $0.99 to $4.99 and make money from their content.
Instagram is yet to officially confirm that a subscription-based service is to launch, but it’s likely a new way for Meta to monetize the platform and compete with rivals such as Patreon, OnlyFans, and Twitter, which recently launched its own creator subscription option.
It’s thought that an official announcement is expected to come within weeks as Instagram looks to capitalize on the new trend for supporting micro-influencers and creators. The company had previously confirmed plans to launch an Exclusive Stories feature, which could form part of the new Instagram Subscriptions service and allow consumers to pay for access to additional content from their favorite users and creators.
Are you excited to hear this news? Would you pay to subscribe to someone on Instagram? Let us know and check back soon for the latest.
