Instagram is giving influencers more ways to make money with the launch of paid subscriptions.
The feature, which was spotted on the App Store in November, is now officially in pre-testing with a small group of influencers who will be able to offer their followers paid access to exclusive Instagram Live videos and stories.
Subscribers will also receive a special badge that will help them stand out in the comments section and influencer inboxes.
The creators “need predictable income”, explained Wednesday in a video Adam Mosseri, the boss of the platform which belongs to Meta (Facebook).
“And subscriptions are one of the best ways to have predictable revenue, which doesn’t depend on the audience which inevitably varies from one publication to another”, he continued.
At launch, only 10 influencers had access to the new feature, as Instagram considers it an “alpha” test intended to allow feedback from fans and creators, which it will then reiterate on.
Through the Subscriptions product, influencers can set their own price to access their exclusive content. Subscribers have eight pricing tiers to choose from, ranging from $0.99 per month to $99.99 per month, depending on the value of the influencer’s content.
Once subscribed, users will be able to access subscriber-only content. They will be alerted to exclusive broadcasts, where they can engage more deeply with influencers as the audience will, naturally, be smaller.
Twitter has followed suit with initiatives such as paid subscriptions to certain accounts or the “Tip Jar” or “tip box”.
“We want to help creators turn their audiences into fans, and their fans into revenue,” summarized last September Esther Crawford, director of monetization products at Twitter. “We want Twitter to be the best place for influencer conversations with their audience.”
Adam Mosseri also clarified that his teams are looking for a way for creators “to be able to take their subscribers to other applications published by other companies”.