Instagram is set to introduce shoppable badges to Instagram Live videos amid a range of initiatives designed to further increase its ad revenue.
The Facebook-owned app will now allow video creators to offer purchasable virtual badges to their live streams in a similar format to Amazon’s Twitch platform.
During a livestream, viewers can purchase these badges for 99 cents, $1.99 or $4.99 and the influencer will see a list of badge holders and how much they have donated, with all the money going to the influencer initially.
This will launch in the US next month expanding to other markets soon after, and It’s understood that Instagram will eventually take an undisclosed cut of badge sales.
Instagram will also begin introducing adverts to its long-form video sharing platform Instagram TV (IGTV) in yet another bid to boost advertising revenue.
Revenue from these ads, which will be no longer than 15 seconds, will be split between the Instagram and the influencer.
This continued expansion of its advertising potential is unsurprising given that last year Instagram raked in $20 billion in advertising spend, accounting for around 25 per cent of Facebook’s entire revenue.