Twitter Spaces recently allowed users with more than 600 followers to host a live audio room as they continue to expand this built-in feature. And now, the social network is giving us a preview of how Ticketed Spaces, a paid version for live audio room events, will look like. The bad news as expected is that Twitter will get a cut of your sales, aside from the in-app purchase fee that Apple and Google will charge. The sort of good news is that Twitter will cover Stripe’s transaction fees.
Face-to-face events have taken a hit during this pandemic but it has paved the way for the much more inclusive online event format. The problem has been monetizing all the video and audio webinars. But lately, organizers and platforms have started doing paid events and Ticketed Spaces will be the new kid on the block. Twitter is previewing what it will look like and how much you can expect to get out of it.
As per The Verge, Twitter is partnering with Stripe to make this happen so it goes without saying that the host should have a Stripe account to be able to do this. Hosts/users will receive 80% of the revenue and Twitter will get the remaining 20% and they will also be shouldering the transaction fees. But the computation for this percentage will only happen after the in-app purchase fees of Apple and Google have already been subtracted.
Twitter will start accepting initial applications in the next couple of weeks. Those who are eligible to apply for a Ticketed Space event include those who are in the US, have 1,000 or more followers, must be at least 18 years old, and must have hosted three spaces in the past 30 days. Their application will be processed within a few weeks. While only those in the U.S can host a ticketed space, everyone can purchase a ticket for the virtual event.
Twitter is going big in helping its users and content creators monetize on the platform. They recently teased Super Follows which will let users pay for additional content from the creators they follow. They are also set to launch something called Twitter Blue which will give subscribers additional features like the ability to undo tweets. Expect more announcements from Twitter in the next few months.