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Facebook won’t take a cut from creators until 2023, Zuckerberg says in shot at Apple

Facebook won't take a cut from creators until 2023, Zuckerberg says in shot at Apple

SOCIAL MEDIA NEWS

Facebook won’t take a cut from creators until 2023, Zuckerberg says in shot at Apple

The founder and CEO of Facebook Mark Zuckerberg speaks during the 56th Munich Security Conference in Munich, southern Germany, on February 15, 2020.Christof Stache | AFP | Getty ImagesFacebook CEO Mark Zuckerberg on Monday announced that the social media company will wait until at least 2023 before taking a cut of revenue from creators who use the site to distribute their work or promote events.Specifically, the company will not take a cut of any revenue generated by paid online events, fan subscriptions, badges and Facebook’s upcoming independent news product, Zuckerberg said in a post on Facebook.Zuckerberg also used his post to jab at Apple, which kicks off its WWDC annual developers conference Monday.”When we do introduce a revenue share, it will be less than the 30% that Apple and others take,” Zuckerberg wrote, referring to the cut Apple takes on all products sold through apps that users have downloaded through its App Store.”We’re also launching a new payout interface so creators can see how different companies’ fees and taxes are impacting their earnings.”Zuckerberg’s post is the latest incident in a long-running feud between Facebook and Apple, which reached a new peak earlier this spring when Apple introduced a privacy update that could hurt Facebook’s advertising business by making it harder to tailor personalized ads and track their performance. More generally, Facebook and other app makers have criticized Apple’s tight control over the App Store, while Apple has criticized companies whose business models rely on tracking user activity to sell relevant ads.


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