Facebook is set to introduce a new feature to Facebook Live which allows content creators and streamers to charge for the live streams they produce.
The social media company are introducing this new feature to help the promotion and growth of small companies/content creators from musicians to podcast creators. This now means that Facebook pages run by these creators can now be monetised, promoting the growth of these companies and creators.
The new service has been tested thoroughly, hosting a variety of different events and live streams including sports like boxing and fitness shows.
Facebook has also made it clear that for at least the next year of this feature, they will not take a cut of any revenue made from these live streams.
The decision to add this feature has been supported as the total views of videos and streams on Facebook Live reached two billion in 2019. Compared to the traditional uploaded videos, the live streams gather six times as many interactions and watched three times longer.
Head of the Facebook App, Fidji Simo explained that “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.
“People are also relying on live video and interactive experiences more when they can’t come together physically. In June, we saw live broadcasts from Pages double compared to the same time last year, largely attributed to broadcasts since March.
“During these times when businesses are struggling, Apple requires apps on iOS to use their payment system that takes a 30 per cent fee on transactions,” Simo was quoted as saying by Front Office Sports.
“For Paid Online Events, that means small businesses and creators will forfeit 30 per cent of every dollar earned when they sell a ticket for their online event. We approached Apple and asked them to reduce this fee for businesses struggling during Covid-19. Unfortunately, they dismissed our request.
“We wanted to make it easier for businesses to reach more customers and, ultimately, earn more money. We have tested this product for a while and now it’s available in the US and 19 other countries.”
Author: Bradleigh Amis