Instagram just announced it's giving 25 creators actual gold rings instead of money - a move that perfectly captures the harsh new reality of the creator economy. While Meta ended its lucrative Reels Play bonus program in 2023, the company now offers symbolic recognition through jewelry and profile badges, raising questions about why one of the world's richest companies won't pay creators directly.
Instagram just dropped the ultimate mixed signal to creators everywhere. The Meta-owned platform announced Monday it's launching a new "Rings" award program that will hand out literal gold rings to 25 creators - complete with matching profile badges and customization features. But there's a catch that's got the creator community buzzing: zero dollars attached.
The timing couldn't be more loaded with irony. This announcement comes as creators are still reeling from Meta's decision to axe its Reels Play bonus program back in 2023, which had been a financial lifeline for thousands of content makers. "As stupid as it sounds, in this economy it was a blessing for my household to have the extra money coming in," one Reddit user wrote after Meta pulled the plug on direct payments.
The new awards will be judged by a panel that reads like a who's who of creative industries: Instagram chief Adam Mosseri, filmmaker Spike Lee, designer Marc Jacobs, and tech reviewer Marques Brownlee. Brownlee, who's also serving as a judge, told CNBC he's focused on "creators whose work showed the most effort and risk-taking, not simply those with the biggest followings."
"It's more about a special visibility and sort of incentive for people to work towards a really cool elevated recognition," Brownlee explained, though his comments highlight the disconnect between recognition and compensation that's become Instagram's new normal.
The creator economy landscape has shifted dramatically since Meta's bonus program ended. Brand deals - traditionally the bread and butter for influencers - plummeted 52% in 2024 according to a Kajabi survey. Meanwhile, competitors like YouTube are flexing their creator payouts, having distributed over $100 billion to creators over the past four years.
This disparity has created an awkward situation where Instagram, despite being owned by a company worth over $800 billion, is offering jewelry while rivals write checks. and YouTube both maintain active creator revenue-sharing programs, making Instagram's symbolic approach stand out for all the wrong reasons.
