Related News

First-ever image captures two black holes orbiting each other |

For the first time in history, scientists have captured an image of two black holes orbiting each other, confirming a long-held astronomical theory. Researchers from the University of Turku in

Navan sets price range for IPO, expects market cap up to $6.5 billion

FILE PHOTO: Ariel Cohen during a panel at DLD Munich Conference 2020, Europe’s big innovation conference, Alte Kongresshalle, Munich. Picture Alliance for DLD | Hubert Burda Media | AP Navan,

How Sora 2 by OpenAI is challenging Hollywood

The launch of OpenAI’s updated Sora 2 AI video service kicked off another round of anxiety among musicians, actors and other content creators. Sora allows users to generate short videos

Applied Digital stock climbs 16% as AI demand fuels data center growth

Applied Digital shares jumped 16% on Friday after the company posted strong first-quarter revenue that was boosted by artificial intelligence data center demand, putting the stock up more than 350%

Rocket Lab stock set for 25% weekly gain after flurry of launch deals

Rocket Lab shares have added more than a quarter in value this week as the aerospace company inked new launch deals in the burgeoning space tech industry. The stock gained

Qualcomm shares fall after China opens antitrust probe into chip giant

Microchip and Qualcomm logo displayed on a phone screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on April 10, 2023. Jakub Porzycki | Nurphoto |

Instagram will award top creators with a gold ring. But no cash

Word Count: 389 | Estimated Reading Time: 2 minutes

Instagram announced on Monday the launch of a new “Rings” award that will give 25 creators a literal gold ring and a matching badge on their profile, but no cash.

Winners will be chosen by a panel including Instagram chief Adam Mosseri, filmmaker Spike Lee, designer Marc Jacobs and YouTuber Marques Brownlee.

The move comes as Meta-owned Instagram has wound down its creator bonus program and brand deals are slowing across the industry, raising the question of why one of the world’s richest companies is offering jewelry and profile features instead of direct payouts.

“It’s more about a special visibility and sort of incentive for people to work towards a really cool elevated recognition,” Brownlee told CNBC.

He said he nominated creators whose work showed the most effort and risk-taking, not simply those with the biggest followings.

Winners can also change their profile backdrop color and customize the “like” button.

Meta ended its Reels Play bonus program, which was a key source of income for many creators, on Instagram and Facebook in 2023. At the time, some vented online that losing the payments left them struggling.

“As stupid as it sounds, in this economy it was a blessing for my household to have the extra money coming in,” wrote a user on Reddit.

Mosseri said in June 2024 that the company is considering changes to creator compensation, but no new plan has been announced.

Rivals YouTube and TikTok have their own creator revenue share programs.

YouTube paid out over $100 billion to creators over the last four years, the company reported in September.

Creators saw a dramatic drop in brand deals in 2024, falling 52%, according to a survey from Kajabi.

In January, Meta was offering deals to creators to promote Instagram on TikTok, Snapchat and YouTube, CNBC reported. However, an Instagram spokesperson said these deals had ended.

Against that backdrop, Instagram’s new gold rings stand out as a symbolic gesture rather than direct financial support in an increasingly challenging creator economy.

“This could be looked at as an incentive to make more Instagram stuff, or really just an incentive to make the best possible thing you can and hopefully get recognized for it,” Brownlee said. “No matter where you’re doing it, it feels good to know that it resonates with people, this is inspiring people, or this is impressing people.”

Source link