Were you making money with Meta’s (NASDAQ:META) Reels Play bonus program? Not anymore, according to the latest reports. At least for now. Reels Play was Meta’s attempt to reward creators on the platform who reached certain view counts, among other key points. Now, however, they’re working for nothing until Meta decides to restart the cash payments once more. Investors were less than pleased, as Meta is down slightly in Friday afternoon trading.
All is not lost, however, for those who were counting on Reels to make their daily living. It’s not that Meta is demonetizing everyone on Reels completely, but rather may be looking toward other arrangements. Reports note that Meta plans to expand advertising on Reels, which would mean more standard revenue-sharing practices. In addition, Meta also plans to expand advertising on Reels tests to bring more “virtual gifting” arrangements into the picture.
All of this likely means little to the Reels creators, who were promised a shot at up to $35,000 per month for their work on the platform. Expansion would certainly be a good option, but with no timetable as to when the changes will go live, content creators are left in limbo and are probably already considering new options. This comes after several other moves designed to save cash, so Meta may end up losing out long-term.
Despite this, Wall Street is clearly sticking with Meta by a factor of nearly four to one. Analyst consensus calls Meta Platforms stock a Moderate Buy with 20.91% upside potential thanks to its $216.95 average price target.
