Facebook launched Bulletin, a new platform for content creators, inviting well-known journalists and correspondents. Bulletin will allow creators to earn money from subscriptions, while Facebook will not charge any commissions.
On Tuesday, Facebook (FB), which hit $ 1 trillion a day earlier, unveiled Bulletin, a new platform for independent writers.
This platform is specially created for authors who do not want to be dependent on some kind of publication, while still being able to make money on their content.
Facebook has noticed this trend of high-profile journalists and writers leaving platforms like Substack, which charges 10% of subscription revenue, or Revue, recently acquired by Twitter (TWTR), which receives a 5% commission.
Facebook Bulletin will become their direct competitor, with a significant advantage – the company has promised not to charge commissions on authors’ income until 2023.
Bulletin’s platform also removes Facebook’s accusations that the company has to pay news outlets for content. After such a conflict with the Australian government, Facebook has pledged to invest $ 1 billion in the global news industry over the next three years.
What do authors get from Facebook Bulletin?
a platform for publishing uncensored and earning content;
until 2023, receiving 100% of income from subscriptions without commissions;
when leaving the platform – the opportunity to take your subscribers and content with you;
Each author on Bulletin will have a separate website under their own brand and will be able to customize the title, logo and color palette of their publication.
Authors can customize their articles with multimedia inserts and other styling options.
Content creators will also have access to Facebook Live or Live Audio Rooms to interact with subscribers.
Bulletin will have podcast distribution tools.
Bulletin content can be posted on Facebook News and other sites to help audiences find and subscribe to it easily.
Subscription payments will be securely processed through Facebook Pay, allowing subscribers to pay by credit, debit card, or PayPal.
With the launch of Facebook Bulletin, Facebook will compete among the platforms with the most interesting and demanded content, while Bulletin users will pay the authors themselves.
The initial investment in the platform will pay off by gaining potentially large audience reach for the platform. For the time being, monetization will take place through Facebook Pay, a payment system that the company aims to expand to users across all of its apps, as well as expanding its audience of Live Audio Rooms, a Facebook tool that competes with podcast apps.
Facebook shares, which hit a new high on Monday, are up 28.8% YTD and 59.5% in the past 12 months.
Twitter, Facebook’s rival, rose 1% on Tuesday, continuing to rise 0.4% after trading closed, suggesting that news of the Bulletin launch did not affect investor sentiment.