INSTAGRAM IS REPORTEDLY TRYING TO ATTRACT TIKTOK CREATORS WITH LARGE BONUSES

Summary from the TLDR newsletter

Instagram is offering creators $10,000 to $50,000 a month to exclusively post Reels. Meta has also launched the Breakthrough Bonus program, which lets TikTok creators earn up to $5,000 over three months for posting Reels to Facebook and Instagram. The company has extended the maximum length of Reels to three minutes. It is working on a new video editing and creation app designed to compete directly with ByteDance's CapCut.