On Monday, Instagram announced the launch of a new “ring” award that will give 25 creators a literal gold ring and matching badge to their profiles, but no cash.
Winners will be selected by panels such as Instagram Chief Adam Mosseri, filmmaker Spike Lee, designer Marc Jacobs and YouTuber Marques Brownlee.
The movement is as follows: Meta– Owned Instagram has abolished its creator bonus program and brand trading is slowing down across the industry, raising questions about why one of the world’s wealthiest companies offers jewelry and profile features instead of direct payments.
“It’s about the special visibility and kind of incentives for people to work towards realizing really cool heights,” Brownlee told CNBC.
He said he nominated the work that showed the most effort and risk-taking, not just the person with the greatest followers.
Winners can also change the background color of their profile and customize the Like button.
Meta ended its Reels Play Bonus Program, an important source of income for many creators, on Instagram and Facebook in 2023. At the time, it was vented online that losing payments were hard work for them.
“It sounds stupid, but in this economy, it was a blessing for my household to put in extra money,” a user wrote on Reddit.
Mosseri said in June 2024 that the company was considering changes to its creator compensation, but no new plans have been announced.
Rivals YouTube and Tiktok have their own creator revenue sharing program.
YouTube has paid more than $100 billion in creators over the past four years, the company reported in September.
According to a Kajabi survey, creators saw a dramatic decline in brand trading in 2024, falling 52%.
In January, Meta had offered deals to creators to promote Instagram on Tiktok, Snapchat and YouTube, CNBC reported. However, an Instagram spokesperson said these transactions have ended.
Against this backdrop, Instagram’s new gold ring stands out as a symbolic gesture rather than direct financial support in an increasingly challenging creator economy.
“This can be seen as an incentive to create more Instagrams, or just an incentive to make the best you can and hopefully be recognized,” Brownley said. “It feels good to know where you’re doing it resonates with people, that this is inspiring people, or that this is inspiring people, or that this is inspiring people.”
