Gone are the physical functions and gatherings. The pandemic lockdown has temporarily sanctioned them. The new normal brought about the rise of online events and services. Live broadcasts on Pages have doubled last June 2020. This is compared to the same month the previous year. To help businesses monetize interactions within Pages, Facebook allows paid online events.
Last 24 April 2020, the platform relaunched Live with. It allows profile and Page owners to invite and select guests on a real-time broadcast. As Facebook allows paid online events, Page admins can now earn money creating, promoting, and hosting an online event that attendees can pay to access. They can charge them directly on their Facebook Page. This function will initially be available to 20 countries:
- Czech Republic
- United Kingdom
- United States
The Page should first meet Facebook’s partner monetization policy. The good news is that Facebook will not be charging any fees for these paid online events. But if attendees sign up on iOS, they’ll be spending a 30% App Store cut.
Facebook allows paid online events as of 14 August 2020.
Implications for Marketers:
Paid online events are extra revenue options for brands on Facebook. To encourage users, marketers can invite influencers or industry experts. Brands can also use this premium content for exclusive product launches or sales kick-offs. It’s much easier to collect feedback and measure results using them.