Facebook have announced that they are allowing businesses to earn money from online events that they set up on Facebook and are waiving the fees on paid online events to help businesses earn money during these uncertain times.
Many businesses are discovering a new way of life and bringing their services to customers online. We are seeing many businesses setting up their online presence and relying on live video and interactive experiences. Facebook has seen live broadcasts double since the same time last year showing just how vial these interactive services are to businesses.
According to Facebook by combining marketing, payment and live video, paid online events meet the end-to-end needs of businesses. Pages can host events on Facebook Live to reach broad audiences, and Facebook are testing paid events with Messenger Rooms for more personal and interactive gatherings. They state that 20 countries around the world that meet their partner monetization policies can start charging for online events, making it easier for millions of people and small businesses to make money on Facebook.
“In testing, we’ve seen businesses use Facebook to host expert talks, trivia events, podcast recordings, boxing matches, cooking classes, intimate meet-and-greets, fitness classes and more.”
Waiving Fees on Paid Online Events
According to Facebook, their Global State of Small Business Report shows how access to cash is the most common ongoing challenge for SMBs and that bringing their services online are costly enough without having to worry about fees charged by platforms. For this reason Facebook are supporting small businesses and creators by waiving any fees from paid online events for at least the next year. For transactions on the web, and on Android in countries where Facebook Pay has rolled out, small businesses will keep 100% of the revenue they generate from the events.