FBThe 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 Images
Facebook 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.
“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.”