Instagram introduces a new monetization option in Live videos and moves forward with IGTV ads

Instagram is making new IGTV badges available to a larger group of influencers after having been testing them with a select few over the past months. These new Badges are a fun new way for fans to be able to show their support for their favorite influencers. The Badges option appears above the comments bar and paying gives the user a special ‘heart’ that can be used instead of the normal ‘heart button on Instagram Livestreams. The Badges cost from ninety-nine cents for one heart to almost five dollars for a “pack” of three hearts. Furthermore, when a fan pays for a Badge it provides the fan with a better chance that the influencer will highlight or answer their comments and will have their account placed on a list that the influencer will be able to view. This will allow influencers to entice followers into paying to enter giveaways and all sorts of other gimmicks.

Initially, only a few select influencers like Ronne Brown and Youngezee were given access to Badges but now over a thousand influencers globally have access to this option.

Instagram stated that they had observed a seventy percent increase in Live viewership due to people looking for more ways to connect during the Coronavirus lockdown which has been in place far longer than anybody had expected. This move makes sense as Instagram has been looking for new ways to integrate monetization into creators’ accounts and this provided them with the perfect opportunity. Instagram has to keep on looking for more and more ways to promote monetization on its platform as creators are amassing huge followings and will obviously look to make increased profits off of their following on Instagram.

The main reason that Instagram is working to add an increased number of monetization options is that they have to provide creators with options so that they will be able to maximize profits from Instagram if they want to become completely focused on making a living from their Instagram accounts as most of them eventually will. This can be predicted from what happened with Vine that ultimately led to the platform being shut down. Creators wanted to maximize profits and they needed more monetization options from the app to be able to focus completely on creating content on Vine but Vine refused to provide them with the options. Eventually, the creators realized that if they were to shift to another platform with better monetization options they would be better off: So, Vine lost all its main stars as they shifted to YouTube and Instagram and Vine had to shut down due to decreased profits.

Instagram obviously does not want that to happen and is working hard to prevent it.

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