New initiatives may make it easier for digital creators to make money on Instagram and Facebook.

Key points

Mark Zuckerberg's brand, Meta, is introducing new tools to help creators to make money on Instagram and Facebook.

Two of Meta's new initiatives are offering free monetization tools and a creator marketplace where brands and creators can connect.

Many people are making a living online as digital creators. Mark Zuckerberg recently announced  some new ways that content creators can make money on Instagram and Facebook.

His brand Meta wants to make it easier for creators to earn money for their work. Some features are already available, while others are being tested to be offered later. Learn more about these initiatives below.

1. Free use of monetization tools

For the time being, creators can use Facebook and Instagram monetization tools at no cost. These include paid online events, subscriptions, badges, and bulletins. Creators will keep all revenue earned until 2024, when Meta plans to charge creators for the use of these tools.

2. Interoperable subscriptions

Creators will be able to give their paying subscribers on other platforms access to subscriber-only Facebook groups.

3.Facebook Stars

Facebook Stars allows creators to monetize their video and audio content through a tipping system. Facebook will be opening this feature to eligible creators so they can earn money from reels, live streams, and video-on-demand content.

4. Monetizing Reels

Instagram's Reels Play Bonus program will soon open to a larger pool of creators on Facebook. This will allow creators to cross-post their Instagram Reels to Facebook to monetize on both social media platforms, if they meet the bonus criteria.

5.Creator marketplace

Instagram is currently testing a creator marketplace where creators can get discovered and paid for their work. Brands will be able to use this marketplace to share new partnership and sponsorship opportunities with creators.

6.Digital collectibles

Testing is currently being done to allow more creators to display their non-fungible tokens (NFTs) on Instagram. Meta also hopes to bring this feature to Facebook to allow cross-posting. In the future, creators will be able to share NFTs through Instagram Stories.

It'll be interesting to see what creators think about these efforts. If they can more easily make money off of their platforms, they'll likely want to create more content.

Other ways to make money online

Being an online creator is one way to make money online. But it's not the only way.

Many people are exploring ways to make a part-time or full-time income online. It could be a solid way to boost your income  and help you reach your personal finance goals sooner.

One option is to get a side hustle. Side hustles can allow you to explore a new skill while making more money.

While not all of these opportunities can be done online, many can. Side hustles that aren't online-based may offer flexibility -- allowing you to work on the weekends or evenings.

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