Instagram is working on creating a marketplace in the app for brands. So they can connect with influencers to promote their products. Adam Mosseri, the head of the video-sharing app announced the new marketplace in a live video on Instagram.
According to Mosseri;
“Branded content is the economic engine behind the creator ecosystem. Matchmaking is something we can add a lot of value for.”
On Tuesday, in a video call, Mark Zuckerberg, the CEO of Facebook, and Adam Mosseri, the head of Instagram publicized a new marketplace for brands.
However, they not revealed much information about how it will work. The company wants to help people to make money through its app. The new marketplace is a part of Instagram’s project to support people to earn. They can make money by tipping, sharing videos, and using other means.
The company emphasized the initiative of this kind during the pandemic when people were using the app in turn to face-to-face business and entertainment.
For many years, the video-sharing app avoided not directly engaged in brand partnerships with creators. It was due to fear of being too commercial. Rather, the deals have informally thrived.
Users who have a big following frequently asked by brands to promote products to their fans through Instagram direct message or email. That has led to an esoteric system. Where the prices paid for the same kind of promoted posts differ significantly, as per Mosseri.