Meta announced the launch of Facebook Content Monetization beta, a new program merging three existing monetization streams for creators on the platform. 

The initiative combines In-stream ads, Ads on Reels, and the Performance Bonus into a single, streamlined system.

The company reports that over four million content creators have earned money on Facebook since the introduction of Facebook-funded monetization in 2017. In the past year, Facebook paid content creators more than $2 billion for videos, reels, photos, and text posts. Payouts for reels and short videos have grown by over 80% during this period.

Currently, only about one-third of Facebook monetizing creators earn from more than one Facebook-funded program. The new Content Monetization beta aims to simplify the process, allowing creators to join a single program to monetize multiple content formats.

The payout model remains performance-based and consistent with the existing programs. Earnings will continue to be tied to the performance of eligible content across various formats, including Reels, longer videos, photos, and text posts.

Meta is initially sending invitations to one million creators who are already monetizing on Facebook to join the beta. The company plans to expand invitations in the coming months. Invited creators can join through the monetization tab of the Professional dashboard on mobile or Meta Business Suite on desktop.

The open enrollment for the program is not scheduled until 2025.

Meta recently rolled out an updated video player on Facebook that features Reels, longer videos, and Live content in one fullscreen, vertically-oriented experience.

The tech giant reported a 73% surge in Q2 profits, driven primarily by its core advertising business. It posted $39.1 billion in Q2 revenue, surpassing analyst expectations of $38.3 billion.