Instagram is today introducing a new way for creators to make money. The company is now rolling out badges in Instagram Live to an initial group of over 50,000 creators, who will be able to offer their fans the ability to purchase badges during their live videos to stand out in the comments and show their support.
According to Tech Crunch the idea to monetize using fan badges is not unique to Instagram. Other live streaming platforms, including Twitch and YouTube, have similar systems. Facebook Live also allows fans to purchase stars on live videos, as a virtual tipping mechanism.
Instagram users will see three options to purchase a badge during live videos: badges that cost $0.99, $1.99, or $4.99. On Instagram Live, badges will not only call attention to the fans’ comments, they also unlock special features.
The badges and list make it easier for creators to quickly see which fans are supporting their efforts, and give them a shout-out, if desired. To kick off the roll out of badges, Instagram says it will also temporarily match creator earnings from badge purchases during live videos, starting in November.
The company says it’s not taking a revenue share at launch, but as it expands its test of badges it will explore revenue share in the future. The changes follow what’s been a period of rapid growth on Instagram’s live video platform, as creators and fans sheltered at home during the coronavirus pandemic, which had cancelled live events, large meetups, concerts, and more. Stay tuned for more tools to be released in the near future.