Facebook announced that it’s letting businesses, creators, artists, educators and media publishers generate cash from holding online events on the platform.
The social-media giant is promising to not collect any fees for paid online events for at least the next year. However, for payments Facebook users submit through the app for Apple’s iOS app, Apple will keep 30% of the revenue.
For transactions on the web, and on Android in countries where the social company has rolled out Facebook Pay, businesses and creators will keep 100% of the revenue they generate from paid online events.
For payments that go through Apple’s iOS, however, that’s not the case. Fidji Simo, VP, head of Facebook App, said in a statement, “We asked Apple to reduce its 30% App Store tax or allow us to offer Facebook Pay so we could absorb all costs for businesses struggling during COVID-19. Unfortunately, they dismissed both our requests,” which means businesses and creators “will only be paid 70% of their hard-earned revenue.” In addition, according to Facebook, if participants on the Android app use Google’s in-app payment system to purchase online events, Google will keep 30% of the revenue.
Facebook said businesses and users with Pages in the U.S. and 19 other countries that meet its partner-monetization policies can start charging for online events. Facebook users can check at this link to see of they’re eligible. Participants can set their own price for access to online events on Facebook.
(Excerpt) Read more in: Variety