It now pays to watch ads on Facebook. The site is rolling out a new scheme today that will reward users for watching certain ads with Facebook Credits, the company’s own virtual currency.
Prior to last week, the Credit scheme probably wouldn’t have meant much, as the currency could only be redeemed for virtual products, like games, within the Facebook site. However, when Facebook introduced its new Groupon-esque Deals service, it also rolled out an innovative pay scheme, allowing users for the first time to use Credits to purchase goods in the real world. With the introduction of the Credits-for-watching program, viewers can cash in on real life deals by watching short advertisements.
For starters, watching an advertisement will be rewarded with around one credit, equal to 10 cents. Game publishers, like Zynga and Digital Chocolate, have signed on to participate in the scheme and Facebook is hoping the new incentive-driven model will remedy its categorically low click-through rates on banner ads.