Facebook CEO, Mark Zuckerberg 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.
He wrote: “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.