As of March 2021 Instagram has begun rolling out IGTV monetization to creators of all sizes. Here's the requirements and the stats about how much creators can make through IGTV Ads.
Let's talk eligibility:
IGTV Ads are slowly being pushed out to creators, and at this time there are no requirements other than having authentic engagement (no paid likes or followers!) and keeping an established presence.
Videos must be at least 2 minutes in length and meet the Community Guidelines.
Videos about certain topics are not eligible for monetization (i.e. videos including debated issues like Race, Gender, and Social Class etc.) In addition, videos that are static images or slideshows are not eligible.
No engagement bait! (i.e. content that asks viewers to "click link in bio" or respond to a post through likes or comments.)
Videos must be your original content, make sure you have copyright-free music!
The Payout / How it works:
Compared to YouTube, IGTV is the next contender for paying its creators appropriately. IGTV pays its creators per "monetizable play". For example, in 24 hrs I had 20,000 views on my IGTV videos. Across those 20k views, there were 3,200 monetizable plays. On average, creators can make about $3-6 per thousand views, this is huge in comparison to Tik Tok in which creators are offered .02-.03 cents per thousand views. For those who have a pre-established audience on Instagram versus YouTube, this is a huge win! I'd also like to point out that IGTV allows for vertical and horizontal orientation for videos, so this allows creators to post reels-like content with the added bonus of monetization.
Looking forward to all creators being able to take advantage of this feature added by instagram!