Instagram is trying to woo YouTube creators with six-figure checks

Instagram is offering select creators six-figure deals, some of which have reached $500,000, to post long-form videos to its new 'Features' product. This move is an attempt to make Instagram a long-form video hub and attract creators from other platforms like YouTube.

This development matters for social commerce as it indicates a shift in Instagram's strategy to focus on long-form video content, which could provide more opportunities for creators to monetize their content and for brands to reach their target audiences through influencer marketing and sponsored content.