Facebook's using cash to lure Gen Z creators to the platform

Facebook is an… interesting place.

It’s definitely not part of my normal rotation of social media platforms. But every so often, I jump on out of curiosity to see what’s happening in the land of Gen X, Boomers, and the populars from my high school that low-key fell off.

As I scroll through this forgotten terrain, I see a post from my homophobic aunt Kathy. Nice to see she still believes I belong in hell.

As I trudge through the sea of politics and marketplace offerings, I see my high school bully! Oh, she has a baby! How sweet. It’s got the same RBF as her.

Finally, a post from my Grandad: a wholesome meme about ducks. A lot more wholesome than his dinner table conversation, thank god.

I hop off for the foreseeable future.

Zuck started Facebook as a site for college kids 20 years ago. But the platform has since been overtaken by those 50 and older, according to the AARP.

Over the last year, Facebook has been working to bring young people back, according to Dane Glasgow, VP and Head of Product at the platform.

This year, FB hosted an event for creators, handing out pamphlets declaring that the site is 'not your mom’s Facebook' (debatable.) No, instead it’s a 'hub for all things culturally happening in the platforms underground' (whatever that means?).

Facebook’s also working on updating the platform’s main feed to offer more content that’s actually attractive to younger audiences.

This will include Marketplace Groups and Facebook Dating, Glasgow said.

'The vision for Facebook is really around social discovery,' he said. When a younger user visits Facebook for a specific need, like buying a used couch or finding a date, the hope is that they’ll stay and scroll.

Earlier this year, Facebook announced it had 40 million daily active users in the U.S. and Canada between the ages of 18 and 29. This is a surprise to me, and it's also the highest number in that cohort in three years.

Now FB is putting efforts into AI, video content and creator monetisation. They're hoping these features will entice Gen Z, more specifically Gen Z creators.

However, once you lose a generation like Z or Alpha, it’s really hard to get them back.

Besides, as a young person, do you really want to be at the same party where your mom, dad, or even your grandparents are? My best guess is no.

But, FB is determined to entice creators and tastemakers, hoping their audiences will follow.

How exactly are they enticing them? Cold hard cash.

Helen Ma, Senior Director of Product and Head of Facebook Monetisation at Meta, told Marketing Brew it’s part of a 'strategy around supporting the growth of new creators and aspiring creators' and compensating them for every type of post.

Ma said Facebook has been hosting events for creators around the world over the last year. These events are all about informing creators about the platform’s evolving monetisation opportunities. Facebook is also using these events to encourage creators to spread the word among their creator networks.

As a larger Meta strategy, Ma said they’ve also been encouraging Instagram creators to cross-post on Facebook.

The point the platform is trying to make--whether you think Facebook is cool or not, you can make money there.

And people are going to go where the money is.

So far, their strategy seems to be working.

There’s a renewed interest in the platform. We're seeing more micro and nano-influencers, as well as video content creators turning their attention to Facebook.

I really never thought I’d see the day, in all honesty. I thought Facebook was old news. Ready to be buried along with Bebo, Myspace and Tumblr.

But I’ve come to think of these things as cyclical, just as fashion is. Skinny jeans are out. High-waisted jeans are in, appealing to a new generation that hasn’t experienced them before.

Eventually those will phase out. Skinny jeans will come back in, appealing to a generation who had no idea wearing them meant you were cheugy.

Is this an opportunity for brands and creators to jump in early and make some noise?

I think yes.

Aunt Kath will love it.

-Sophie, Writer