Facebook Launches Ability for Creators to Earn Money via Paid Online Events, Apple Will Take 30% of Payments Made Through iOS App
Facebook announced that it’s letting businesses, creators, artists, educators and media publishers generate cash from holding online events on the virtual platform.
The social media giant is promising to not collect any fees for paid online events for at least the next year. However, for payments Facebook users submit through the app for Apple’s iOS app, Apple will keep 30% of the revenue.
“With social distancing mandates still in place, many businesses and creators are bringing their events and services online to connect with existing customers and reach new ones,” Fidji Simo, VP, head of Facebook App, said in a statement.
Facebook said Pages in the U.S. and 19 countries around the world that meet its partner-monetization policies can start charging for online events. Facebook users can check at this link to see of they’re eligible.
According to Facebook, in June, live broadcasts from Pages doubled compared with a year prior.
For transactions on the web, and on Android in countries where the company has rolled out Facebook Pay, businesses and creators will keep 100% of the revenue they generate from paid online events.
According to Simo, “We asked Apple to reduce its 30% App Store tax or allow us to offer Facebook Pay so we could absorb all costs for businesses struggling during COVID-19. Unfortunately, they dismissed both our requests and [businesses] will only be paid 70% of their hard-earned revenue.”
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