Social media giant Facebook is struggling to fully succeed as a video content sharing platform. It has found limited success in luring video creators on its platform aid tough competition from giants such as YouTube, and rival video apps like TikTok, ShareChat, Like and Helo.
The Cry of Creators:
Facebook, with the introduction of its various initiatives, has been trying very hard to lure the video content creators, but it has not been able to rope them in significant numbers.
Several content creators complaint that they are not able to see a significant monetary incentive in switching to Facebook since there is more user engagement for YouTube videos. In addition, the YouTube creators platform also offer better tools, features and improved ways of making money.
Monetization Plan? Not of much use!
Although Facebook launched a monetization plan last year, the long set of guidelines and various limitations hence limited the number of creators on the platform.
Not only do Facebook consumers watch videos, but they also talk and communicate with buddies. It is therefore hard to attract 10,000 supporters for individual content designers,
said Karan Dua, a famous content developer with over 300,000 supporters who lately began earning cash from Facebook.
Dua said he earns over Rs 50,000 from publishing three videos a week on YouTube, while Facebook receives him just Rs 25,000 a month for as many as seven weekly uploads of videos.
YouTube content is also easier to discover than Facebook, leading to greater reach and greater income, said Gurpreet Singh Tikku, a video producer.
The ads on Facebook videos cannot be skipped, the audience invariably loses, he added.
In order to encourage content developers to develop a video storytelling style, Facebook will definitely have plans to go the extra mile,
tells Praneesh Bhuvaneshwar, co-founder, Qoruz, an influencer data analytics firm.
Facebook’s recent Experiments:
The Thumbstoppers program has also recently been introduced by Facebook, partnering with advertising organizations to generate short-form mobile-first advertisements of less than 10 seconds. Earlier, Facebook also introduced’ Facebook creators,’ which contains a lot of platform-wide instruments to stream videos and SMS. The firm has also set up’ Live surveys’ and also seeks to add video on demand.
Young people discover Helo and Sharechat more related than the offers of the social networking giant in Tier II and Tier III towns. Google-owned YouTube, at least in the start, also trains creators in video production.
The Competitors:
Apps like TikTok assist creators as they are primarily from Tier II and Tier III towns and are unable to manage these on their own, said content creators.
Although India continues to be one of Facebook’s biggest economies with over 300 million customers. On the other side, there are about 50 million and 45 million active monthly subscribers on social media systems such as Helo and ShareChat.
In addition to Hindi, Bengali, Tamil and Malayalam, Facebook has recently extended ad breaks to Marathi, Punjabi, Kannada and Telugu. Video creators, however, said regional language-based videos, which are more popular, have limited scope for monetization on the platform.
It’s time, Facebook should further start experimenting with new things to get more and more video creators on its platform.
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