Instagram Reels Revamp Revenue Model

Meta recently announced that it's replacing the "Reels Play" bonus payouts for Instagram with a revamped ad revenue-sharing program, shifting its short-form monetization approach. This announcement reflects its commitment to remain competitive in the short-form video space, where YouTube, TikTok and Snapchat are all fighting for the top spot.

The old "Reels Play" bonus paid creators based on views, often needing millions of views to earn a few hundred bucks. Creators often mentioned a noticeable difference in exposure when their reels bonus was turned on versus when they would decline the offer; seeing drastically more views when the feature was turned off.

However, the new "Ads on Reels" program will give creators a share of the ad revenue generated by their content. This change aligns Instagram more closely with the payout structures of TikTok and YouTube, where creators receive a share of ad revenue based on their content's performance.

The updated "Ads on Reels" program will begin testing with select U.S. creators and advertisers in the coming weeks. Meta believes that splitting ad revenue, which grew to $43.2 billion in 2022, will better incentivize creators and advertisers. As a result, creators can focus on producing content that resonates with their audiences, advertisers can access more ad inventory to reach more people, and users can enjoy a more consistent viewing experience with more relevant ads.

We are excited to present this week's Digital Hustlers of the Week, Karen X. Cheng (right) and Speedy Morman (left). These two trailblazers have made impressive strides in the world of AI and design, as well as in the entertainment industry, captivating audiences with their talent and innovation!

Introducing Karen X. Cheng, the creative genius introducing us to creative tools in the A.I. and design space. She has worked with major brands as a byproduct of producing work that she truly enjoys creating. Cheng has worked with high-profile clients like Adobe and Beats by Dre, using NVIDIA Canvas to turn doodles into stunning landscapes. Her recent collaboration with McDonald's showcased an immersive metaverse experience celebrating the Lunar New Year, complete with augmented reality (AR) filters and 3D scenes using NeRF (neural radiance fields) technology. Her innovative work serves as an inspiration to aspiring creators in the digital age! Check out her jaw-dropping creations on her Instagram and personal website.

On the other side, we have Speedy Morman, the authentic and relatable on-camera host, journalist and executive producer from Queens, New York. Speedy has made a name for himself by interviewing some of the biggest celebrities and public figures, including Kobe Bryant, Cardi B and former President Barack Obama. His recent accomplishments include hosting and producing "360 with Speedy Morman" on Complex Networks, launching Spotify's flagship morning show 'The Get Up,' and hosting the hit streetwear competition series 'The Hype' on HBO Max. Speedy's unwavering dedication to his craft makes him a role model for aspiring journalists and hosts! Follow his journey on Instagram and checkout his latest apparel release, comf.

Be sure to follow and support this week's Digital Hustlers of the Week, Karen Cheng and Speedy Morman! Their outstanding achievements and continuous growth in their respective fields demonstrate the power of perseverance and self-belief. Learn from their incredible stories and let them inspire your own digital journey!

Unlock Your Potential with Amazon's $250,000 Small Business Grants

Hustlers, are you ready to level up your business, because Amazon is celebrating Small Business Month with a whopping $250,000 in grants for their 2023 Small Business Grants program! This isn't just cash; it's fuel to ignite your innovation and growth. So, seize this opportunity and apply now!

Amazon is inviting small businesses earning $1 million or less in annual revenue to participate. Applications are open until May 21, with winners to be announced on July 17. Just imagine what your business could achieve with this financial boost!

Take inspiration from Virtual X Kitchen, based in College Park, Maryland. They were a 2022 grant finalist and scored a cool $20K for their business. Talk about turning dreams into reality! When applying, remember to be clear and authentic about your vision, demonstrate your resilience and showcase how you give back to your community!

So, what are you waiting for? Check out Amazon's Small Business Grants program and show them what you've got! Review the official rules and visit the Amazon Small Business Grants Application to complete your online application form. Don't miss this chance to secure funding and boost your business. Use this opportunity to prepare yourself for future grants and investors, and build confidence in speaking about your business. The sky's the limit!

The Relume Design League: Where Designers Compete for Cash

The world of web design has a thrilling new game - the Relume Design League! Picture this: the globe's top web designers and creatives in a live Figma Arena, and 30 minutes to create a killer landing page design side-by-side under the clock!

• Designers are given a theme (anything from shoes to food or architecture).

• A toolkit loaded with the wireframe of a landing page, design assets and a mood board

• The countdown starts, and they've got 30 minutes to bring their design to life.

Talk about a pressure cooker situation! It's a rollercoaster of creativity, skill, and time management. Sometimes, you see designs that take your breath away. Other times, well, let's just say the clock can be a tough opponent.

The latest addition to the league is the Figma Arena. It's the battlefield where the designers face off head-to-head. It's part of the first E-Sports made for designers, and it's all about practicing your craft under pressure.

So, are you ready to explore the fast-paced world of design esports? Check out the past match on YouTube, learn more about the RDL, and see if you've got what it takes to rumble in the Figma Arena!

Quick Links:

• Check out the Relume Library

• Catch the latest updates on Twitter

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• Download Figma

• Apply to Amazon Small Business Grant

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