Facebook Launches Paid Online Events For Business Recovery

In an attempt to help small business following the pandemic Facebook has launched some paid online events. Announced in a company blog post, although the events will eventually cost, the costs will be waived ‘at least the next year’.

Alongside this initiative, the company has also launched its new voting information centre. This gives users information on how to register to vote as well as to reduce misinformation. Initiatives like these come at a good time as they are likely to take the spotlight away from the fact the company is once again being sued for its data collection policies.

Overall, the launch of these paid online events is likely to please Facebook creators. They will be able to host a range of different things on these events to try and generate some revenue post-pandemic.

Accounts eligible for monetization can use online events

As reported by Android Police, only those accounts that are eligible for monetization can utilise these online events. Facebook has provided its monetization policies here.

Fidji Simo Vice President, Head of Facebook App points out that many people are “relying on live video and interactive experiences”. Given people cannot necessarily meet up in person this will allow creators to generate revenue remotely.

Facebook saw live broadcasts from Pages double compared to last year. Currently, Pages can host events but the company is working on the ability for events to be hosted in Messenger Rooms. This is for more personal and interactive meetings. paid online events payment flow 2

 

Facebook waive fees for online events for a year

In order to get this scheme off the ground Facebook has decided to waive fees for online events to begin with. The company says this will go on for at least a year.

The company says online 19% of small businesses received help during the pandemic. Therefore, by waiving the fees the company is doing their bit to support them. Cynically, this may be simply a marketing ploy in order to gain popularity for these events. However, for cash strapped businesses this will still be a welcome piece of news.

The company also asked Apple to waive its 30% App Store tax or allow Facebook to offer Facebook Pay. This would allow businesses to receive all the revenue generated from these events. However, Apple refused so businesses will only get 70% of whatever is made from online events.

Small businesses will likely welcome this news as many had turned to live broadcasts on Facebook to support themselves. Making this system more streamlined and easier to operate will, therefore, help businesses that are going through a difficult period. Hopefully, this initiative will be as helpful to businesses as Facebook claim it will be.

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