Facebook To Allow Artists Charge Fans To Access Their Live Streams During This Pandemic
Due to the global pandemic, many artistes’ shows have either been
postponed to new dates or indefinitely. But fortunately, their inability
to tour is gaining a new way for them to make money during the COVID-19
pandemic.
Facebook has announced it’s adding an option that will let creators charge viewers to watch live streams on the platform.
“To support creators and small businesses, we plan to add the ability
for Pages to charge for access to events with Live videos on Facebook ,
anything from online performances to classes to professional conferences,” Facebook said via its Newsroom.
With this new option, artistes could stage virtual concerts with ticket prices. It may also present a way for the “Verzuz battles”, which have become extremely popular on Instagram Live, to become a money-making enterprise for the participants.
With these battles having viewership numbers upwards of 500,000 people,
and artists like Tory Lanez bringing in more than 300,000 people to his “Quarantine Radio”
livestreams, there is a real potential to earn a substantial revenue.
Even if artists are able to convert a small percentage of those viewers
to pay for their Facebook livestreams, it could result in a solid
profit.
The upcoming feature is one of the multiple changes the social media
platform is making in light of the global pandemic. Facebook is bringing
back Live With, which allows users to livestream with another person.
The company is making it possible to add a donate button to live videos
too, aiding users in raising money for nonprofit organizations.
However, Facebook hasn’t announced when exactly users will be able to
start charging for livestreams. It also hasn’t revealed how much of a
revenue share it will be receiving once the feature is introduced.
