Mark Zuckerberg, Facebook CEO, on Monday, June 7, announced that Facebook 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.
He explained via his Facebook account that the social media 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 also used his post to criticize Apple.
“To help more creators make a living on our platforms, we’re going to keep paid online events, fan subscriptions, badges, and our upcoming independent news products free for creators until 2023. And when we do introduce a revenue share, it will be less than the 30% that Apple and others take.”
The Facebook CEO’s post is the latest incident in a long-running feud between Facebook and Apple. The feud reached a peak weeks ago 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.