FACEBOOK MONETIZATION: HIVE NEEDS TO CHANGE TO SURVIVE
Meta which is the company behind Facebook has launched a new way to make money for content creator on it's social media sights which include Facebook and Instagram. Meta introduced the Facebook Content Monetization beta in October 2024 which is currently only open by invitation only.
It is the latest way for content creators to easily earn income on their content. The change consolidates previous monetization avenues of In-stream ads, Ads on Reels and the Performance Bonus into a single streamlined system. This initiative enables creators to earn from various content formats, including Reels, longer videos, photos and text posts, simplifying the monetization process and broadening earning opportunities.
Previously, Content creators could only earn a portion of the ad revenue based on views on reels and each earning tier needed to be invited or approved once applied for. This model was limiting for content creators as they had to prioritse one form of content over others. Or when uploadng different content, they weren't earning an income even if it was high engaging and performing well.
As a content creator on Facebook who was previously earning ad revenue on Reels I was invited to try the new model as it launched in October. The results have been amazing and have lifted my monthly earnings which continue to grow.
From Cents to Dollars
Once I joined the program I went from earning a few cents from reel's income with a few reels performing well and making $7, the shift to performance based payouts has increased my income. Where I had never earned the threshold to get a payout, I am not making $500 a month. However, this new addition raises some serious questions about the future of $HIVE.
After failing to launch it's Diem which was supposed to be it's own Cryptocurrency which would have been used to make in app purchases and a unified global currency on Facebook and all it's other services. It has moved towards a more decentralised system to share more of it's earnings with content creators.
Much like Hive, except you don't need upvotes to gain an income as it is based on views. With the latest changes income is increased based on performance which means how many accounts you reach.
My content regularly reaches 200 to 300 thousand accounts which is often shared and commented on, while I am still a small time player I am looking on continuing to increase my reach and income by engaging more and creating more engaging content.
Hive has often promoted itself as a go to social media site where content creators can earn and own their content whereas previously social media sites were the ones making the profit. This shift provides a barrier and a challenge for the future of Hive and one we need to take seriously.
The success of Meta’s program is wide spread and many are taking to social media to show their earnings. This will now add competitive pressure on decentralized platforms like Hive, which champion community governance and blockchain based monetization. With the rise of performance based monetisation models in mainstream platforms, Hive needs to reassess its value proposition.
A core area for improvement is Hive’s Decentralized Hive Fund (DHF). This fund is supposed to support Hive's ecosystem growth and innovation but in my opinion is massively underutilised and hasn't really been fine tuned for the best outcomes. If Hive is to attract and retain content creators it must better utilise these funds into projects that drive onboarding, marketing and liquidity as well as support for content creators.
Hive Faction's need to end
Let's not live under a rock, Hive is filled with factions and if you're like me and "earn too much" (that's a thing) you get banned from earning and over looked by curators. Meta doesn't have this issue as it is neutral and much of it is automated. Also on Meta unlike Hive, Whales don't just get the support. Support is provided equally across all users based on their content.
Hive does have some benefits in relation to it's $HBD and APR on earned income but these latest changed by Meta are a sign that mainstream social media sites are not going to sit ideally by and enable decentralised social media sites disrupt their income and dominance.
There are also no downvotes and even negative engagement on Meta will increase someone's income so all interation and posts are welcome. Unlike Hive, Meta understands the need to increase posting and content to enable Google to increase it's ranking. Unlike Hive, many get attacked if the post too much which limits our ability to increase in the google rankings and lowers visibility.
Hive communities need to be upvoting and buying more Hive
Incase you didn't know, people who are running UI's on Hive have ad revenue switched on so it is a lucrative business on Hive to create a vibrant and engaging community and then get people using your UI.
This not only increases your income from Hive upvotes but also paid by ad placement, but these funds are being retained by many of the community groups and while your content might be performing well, you might be carrying the entire Hive community and making their owners/operators rich.
So don't be misled by the few cents or dollars you get, @leofinance has been a community that have been utilising those funds to buy more $LEO and also provide evergreen payments to it's users based on stake.
Milking The DHF
For too long, people have been milking the DHF and content creators get blamed for lowering the price of Hive and anyone seen selling Hive is avoided earning an income so it creates a massive circle jerk. Witnesses earn wads of cash, DHF earn tens of thousands if not millions over the years and not much of it is returned to the actual content creators that are the ones generating the income.
Hive is now going to have to compete with mainstream platforms, Hive’s DHF has to change to prioritise initiatives that align with the demands of modern creators. Marketing campaigns that show Hive’s unique opportunities may draw attention to its decentralized model, while better onboarding tools could simplify joining Hive. Increased payouts or improved liquidity mechanisms could also enhance user retention and incentivize greater participation and buy in.
DHF spending isn't the only issue as Hive must confront its inflation challenges. The current inflationary model, which rewards content creation and curation through newly minted Hive, risks devaluing Hive tokens over time. Proposals have emerged seeking adjustments to curation rewards but how many of them have been beneficial? Such reforms are essential if Hive wants to maintain its appeal amid a growing array of monetization options on mainstream platforms.
Currently the most used UI on Hive is @peakd and it is a decent UI, but it currently doesn't have any ads which reduces the ability to bring fiat into hive. Peakd gets it's funding from the DHF and as one of the oldest running proposals have probably built quite the warchest of income and money.
Nothing against a good business that meets peoples needs.
But it's time that many with the capacity and the ability actually start focusing some of that long term money onto initiatives that lifts the eco-system. Because if they don't. It won't be long until mainstream social media out compete's Hive and our tokens turn to dust.
let me know your thoughts in the comments section below
image sources provided supplemented by Canva Pro Subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services
Posted Using INLEO
