Wondering why Facebook plans to pay $1 billion to influencers?
... [+]Facebook will pay out $1 billion to social media stars using its apps over the next year and a half, the latest salvo in a growing war between Facebook and its rivals to win over influencers.
The company will dispense the funds to influencers through shared ad revenue and bonuses for time spent on Facebook and Instagram, and, in some cases, Facebook will offer seed funding to some creators who want establish their presence on those sites. “We want to build the best platforms for millions of creators to make a living,” CEO Mark Zuckerberg wrote on in a Facebook post. “Investing in creators isn't new for us, but I'm excited to expand this work over time.”
Social media companies are newly focused on the influencers who help bring in millions of daily users. Facebook has announced a slew of initiatives, including the ability to solicit money from fans and tools to sell branded merchandise. But Facebook is just one member of a crowded race.
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