Cha-ching! Instagram is giving creators a new way to collect their coins with the launch of its new subscription feature.
Instagram Subscriptions was initially spotted on the app store back in November and now the platform has begun testing the feature with a small group of U.S. creators. These creators will be able to offer their followers paid access to exclusive Instagram Live videos and Stories.
With the new feature, creators are able to choose their own monthly subscription fee from eight price points: $0.99, $1.99, $2.99, $4.99, $9.99, $19.99, $49.99 or $99.99.
Instagram will not be taking a cut of revenue until at least 2023, per The Hollywood Reporter. A percentage has yet to be announced, however, Meta CEO Mark Zuckerberg previously stated the cut will be less than 30 percent.
As part of the service, subscribers will have access to exclusive for-subscribers-only content. A badge will also appear next to follower names indicating which of them are paying subscribers.
Currently, Instagram is testing the subscription feature out with the following creators: actor and influencer @alanchikinchow; basketball player @sedona._; astrologer @alizakelly; dancer/actress/model @kelseylynncook; digital creator @elliottnorris; Olympic silver medalist @jordanchiles; gymnast and creator @jackjerry; spiritual coach and artist @bunnymichael; XR creator @donalleniii; and digital creator @lonnieiiv.
In the coming months, the platform plans to expand the number of creators that can create paid subscriptions.