Facebook Enables Earning from Online Events

Facebook has launched the ability for businesses, creators, educators and media publishers to earn money from online events on its main platform. Page owners can now create an online event, set a price, promote the event, collect payment and host the event, all in one place.

Facebook said that by combining marketing, payment and live video, paid online events meet the end-to-end needs of businesses. "Pages can host events on Facebook Live to reach broad audiences, and we’re testing paid events with Messenger Rooms for more personal and interactive gatherings. Now, Pages in 20 countries around the world that meet our partner monetization policies can start charging for online events, making it easier for millions of people and small businesses to make money," the company said in a blog post.

In a recent report, Facebook found that access to cash continues to be the most common ongoing challenge for SMBs. Only 19% of surveyed businesses were getting any financial help (down from earlier in pandemic). Shifting in-person events to online is costly enough that businesses shouldn’t have to worry about fees charged by platforms. To support small businesses and creators, Facebook will not collect any fees from paid online events for at least the next year.

For transactions on the web, and on Android in countries that have Facebook Pay option, small businesses will keep 100% of the revenue they generate from paid online events. The company also asked Apple to reduce its 30% App Store tax or allow them to offer Facebook Pay so they could absorb all costs for businesses struggling during COVID-19. Unfortunately, Apple dismissed both requests and SMBs will only be paid 70% of their revenue.