Instagram announced on Monday that it is launching an gold ring awards program, with 25 creators set to receive a gold ring next week. The company states that the new gold ring awards program will honor creators worldwide who push culture forward and challenge established boundaries.
The Instagram head, Adam Mosseri, Spike Lee, Marc Jacobs, YouTuber Marques Brownlee, Yara Shahidi, and Pat McGrath are among the members of the judges’ panel for the new awards program.
The gold ring awards program winners will get their own specifically designed physical custom ring created by London fashion designer Grace Wales Bonner, along with a digital gold ring around the outside of their Instagram page. They will also be able to develop a branded “Like” button that shows up when they like feed posts. Perhaps most notably, winners won’t be receiving any kind of monetary award.
The change is yet another sign that Meta has been winding down its creator payout programs in the last few years. Meta had shut down a program earlier this year that paid creators for ads in their profiles. In 2023, the company eliminated bonuses for Reels creators on Instagram and Facebook. In 2022, the company also ended its affiliate marketing bonuses.
The new awards program also launches as creators reported a 52% drop in brand deals in 2024, according to research from Kajabi. Last year, Bank of America said that as sponsored partnerships slow, the space is getting competitive as paid partnerships are more consolidated among top creators.
With recent changes like these, it’s fun to see Instagram debut a symbolic awards program that pays its winners nothing. Its focus, instead, is on launching an awards program that’s meant to be like the Oscars of content creators (but without a physical ceremony).
The company said in the blog post that the award is “all about celebrating those who aren’t afraid to take creative chances and do it their way. Those who unite people through their creativity, and thus merit a tribute.’
