How to monetize Instagram: 8 best options for content creators and experts
Now, you’re equipped with enough knowledge to start monetizing your Instagram account. So, here are the 8 ways you can try in 2023, from paid subscriptions and sponsored ads to selling your own products.
In-platform Instagram monetization tools
As a social network committed to supporting its content creators, Instagram offers several ways to monetize content using its own built-in monetization tools.
Instagram Subscriptions is an in-platform monetization tool allowing creators to earn money by offering paid access to unique content for their most loyal fans.
The feature originally introduced in 2022 works in a similar way to other popular platforms — for example, Patreon. For a recurring monthly payment, subscribers can watch exclusive live videos, view stories, and gain access to other gated content the creator shares on Instagram. Still, there are currently considerable limitations for creators, like you need to be 18+ and have 10K+ followers to access the tool.
- Proficient and disciplined content creators who can produce quality content quickly in sufficient quantities.
- Content creators with a large number of loyal fans.
- Content creators with sufficient experience in live streaming.
- Full-time content creators who can devote enough time to their Instagram accounts.
Not a good fit for:
- Inexperienced content creators who are just starting out.
- Business owners whose main focus lies outside content creation.
- Part-time content creators who have other major commitments.
What about the money?
Content creators can choose the monthly fee they want to charge within the range determined by Instagram: from $0.99 to $99.99.
The Instagram Live badges feature was first introduced in 2021 as an incentive for content creators who do live streams on Instagram. These badges allow viewers to “tip” bloggers during live broadcasts to support them and help them reach their goals.
However, not all creators are eligible for this monetization option. To access badges, you have to be over 18 years old, have 10K+ followers, and comply with the platform’s policies and guidelines. Moreover, badges are currently only available in select countries: the US, the UK, some EU countries, and some countries in Latin America.
- Content creators, influencers, and business owners with expert knowledge of their subject and exceptional live-streaming skills.
- Content creators, influencers, and business owners with a big loyal fanbase.
- Content creators, influencers, and business owners with clear, measurable goals.
Not a good fit for:
- Content creators, influencers, and business owners who don’t enjoy going live on Instagram.
- Lifestyle bloggers who cannot share anything viewers might find useful or entertaining (like lectures or live shows).
- Content creators who need a stable, predictable income from their Instagram account.
What about the money?
Subscribers can buy badges worth $0.99, $1.99, or $4.99, which might not seem much. However, one subscriber can buy many badges for up to $250 during one broadcast.
Ads on Reels
Since being introduced a few years ago, Instagram Reels has become one of the top-performing content types on Instagram. Naturally, this couldn’t happen without help from talented creators — and Instagram recognized their efforts by offering Reels Play milestone bonuses until March 9, 2023 as an incentive.
Currently, the bonuses program is being gradually discontinued. But Reels creators can expect to get their share from the new feature: Ads on Reels. According to Meta (Instagram parent company), it will offer performance-based revenue for ads placed on reels — that is, the payout to creators will depend on the number of plays and not the ad revenue. However, this feature is still in the testing stage, so it’s too early to discuss the details.
Instagram’s Creator marketplace is another brand-new in-platform monetization tool that is currently being tested with select creators. The idea behind it is to offer a new way for creators to connect with brands in the wake of the platform’s native Affiliate program’s demise (more on that later).
According to Instagram, this tool enables creators to be discovered by brands, set up a portfolio, manage their brand preferences, add branded content interests, and more. However, it is too early to say whether it’s going to be a viable monetization tool for content creators on the platform.
Other ways to monetize Instagram
If in-platform Instagram monetization tools are insufficient or unsuitable for you (which is often the case), you can try other popular ways to monetize your Instagram account. Here they are.