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Facebook-owned Instagram is now going to get its own marketplace where brands can connect with influencers they may want to pay to promote their products.
The new tools will help influencers to make money off its platform, including creator shops and affiliate commerce. Facebook Chief Executive Officer Mark Zuckerberg announced the upcoming features during a live stream with Instagram chief Adam Mosseri.
Creator Shops would be an extension of the company’s existing shopping features, which allows businesses to sell products.
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“We see a lot of creators setting up shops too, and one part of being a content creator business model is you create great content, and then you can sell stuff, and so having creator shops is awesome,” Zuckerberg said.
Zuckerberg also said the company is working on tools that would enable Instagram stars to get paid for promoting products.
“Creators should be able to get a cut of the sales of things that they’re recommending and we should build up an affiliate recommendation marketplace to enable that to all happen,” he said.
Instagram is also working on a “branded content marketplace” that would help match influencers with sponsors.
Zuckerberg noted that such a tool could help enable up-and-coming talent to monetize and help create a kind of “creator middle class.”
According to the report, the new tools are still in the works, but could dramatically shift the way influencers monetize their following on the platform.
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