As any content writer knows, long-form is king for SEO, but as far as social media is concerned, it is the short form that matters now. TikTok arrived in the autumn of 2016 and quickly attracted a young audience with its unique 15-second video content.
Now that TikTok has amassed 1 billion active monthly users, the other big social media platforms have been keen to emulate or copy the TikTok format. There are huge incentives available to attract creators to YouTube, Snapchat, and Instagram now.
Instagram, which has around 1.3 billion users now, has had its Reel feature available for a couple of years but has recently been pushing for even more users. At the end of last year, Instagram started offering hundreds and, in some cases, thousands of dollars to users to make Instagram Reels.
Influencers and creators can now make up to $10,000 for creating reels, and many started by buying just 1000 Instagram followers.
Why use short-form content?
TikTok realized that there is a low attention span for content on social media. Bounce rates for web pages are estimated to be as low as 15 seconds, and this is the same length that TikTok first assigned to its users’ video creations.
It turned out to be a hit, and TikTok became the first non-Facebook app to reach 3 billion downloads in July 2021. The same year it experienced a 45% increase in monthly users to reach 1 billion for the first time.
TikTok’s demographic is largely under 34. And, to illustrate this clearly, 92.39% of all TikTok users are between 13 and 34. In comparison, while Instagram has a similar active monthly user base, only 70% of users make up the 13 to 34-year-old age group.
This may have had some influence on the decision by Instagram to introduce Reels and incentivize them.
What are Instagram Reels?
Like TikToks, Reels are short-form video content. They were initially limited to 15 seconds but were extended to 90 seconds now.
They allow creators to make videos of any subject, then edit them, add music or sound, and visual effects or text. They can be saved, and many users like to download Instagram reels and keep them for repeat viewing. Many influencers have welcomed the addition of Reels as an extra tool to help promote their brand, and for making interesting content. They are also an additional revenue stream for many.
How can you make money from an Instagram reel?
Many businesses use influencer marketing to have products endorsed and promoted through Instagram. Influencers can make substantial incomes this way, depending on their popularity and the size of the audience. It has been reported that some micro-influencers are making $300 per Reel. If this is true, then established influencers should in theory be able to make $$$s for each of their Reels. But how?
Some of the more popular ways to make money through Instagram Reels are these:
- Affiliate marketing
- Reel creation
- Reel editing
- Selling and promoting products
- Through the Reels Play Bonus program
Many aspiring creators are making money by helping influencers make Reels and edit them. Editors can charge an influencer between $20 to $50 an hour just to edit their content. Those who own and post the Reel can look at affiliate marketing or ecommerce to make increased revenues.
But, there is one way to get paid directly from Instagram, and that is through its Reels Play Bonus program.
What is the Instagram Reels Play Bonus Program?
This is the program that Instagram devised to encourage more content creation. If Instagram users are supplying engaging content, then more people will stay on this platform instead of defecting to TikTok or other social media.
Users need to apply for the program, and then once they become eligible they can make money from engagement and the number of plays for their Reels. Obviously, if a Reel goes viral, then more money can be made.
What are the potential earnings from an Instagram reel?
Social media has provided a way for many to make an income that would be impossible without the internet. Some fitness YouTubers are making $800,000 a month and more.
You will need to obtain 1,000 views before you can start getting paid on Instagram, however, this is a tiny number compared to the audiences some influencers have. Instagram actually started to lower the payouts for the bonus program because it was deemed too easy to hit for some creators.
Some users have pointed out that they are being given different targets and bonuses than other creators. This has led to confusion surrounding how bonuses are structured. But for example, one creator was making $1,200 per month for 1 million views. While it is not clear exactly how much you could make, it is potentially tens of thousands of dollars, if you can rack up hundreds of millions of views.
Summary
Instagram Reels has proven to be a very popular way to keep a younger audience with Instagram and add another way for influencers to increase their revenue.
While the bonus program appears to be unclear for some, there are possibilities to make money through brand link-ups, affiliate marketing, and e-commerce. For the Gen Z audience, though, it appears that Instagram Reels and TikTok are nearly indistinguishable. Perhaps all social media apps will eventually look identical.