Just as Clubhouse is speeding up the process for payments on its Android platform too, its main rival, Twitter Spaces is also heading towards the path of monetisation for the many creators on it.
Multiple media reports have it that Twitter has started previewing the feature to a small group of users in the US.
Selected users in the US will be able to host paid live audio rooms on their Twitter profiles starting in the next couple of weeks.
Ticketed Spaces is only one of many the features Twitter has been working on to help users monetize their presence on its platform.
Among others, there are plans for Tip Jar and Super Follows features that will let users make money on the platform.
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Ticketed Spaces - Twitter to get 20% cut
As per Twitter images available in the media, Ticketed Spaces will be available through an application process, which will include signing up to Twitter's rules around paid events. Reports have it that users in the US will be able to apply to host paid live audio rooms in a few weeks' time.
The entry barrier is anyone who wants to have ticketed spaces will need to have 1,000 followers, must have hosted three spaces in the past 30 days, and be at least 18 years old.
The user will then be able to select a ticket quantity for the Space and set a price. Ticketed Spaces users will take home 80% of any earnings from ticket sales, after app store fees.
As per a report in The Verge: "The company is partnering with Stripe to handle payments, and it says users will receive 80 percent of revenue after Apple and Google’s in-app purchase fees are taken. So if you sell a $10 ticket, Apple would presumably take a 30 percent cut, leaving you and Twitter to split the remaining $7. Eighty percent would go to you, and 20 percent would go to Twitter. The company says it’ll cover the cost of Stripe’s transaction fees. (Hosts will also need a Stripe account.)"
Google, Apple stand to gain despite doing nothing much
A creator sells a Ticketed Space for $5. The creator, who people are willing to pay for, gets $2.80. Twitter, who facilitated the connection and created the product, gets $0.70.Apple/Google, who leverage OS API control into a tax on all activity, do nothing and get $1.50. https://t.co/2GRHYrSM8QMay 21, 2021
The money going to Apple/Google has caused some consternation among analysts. The feeling is the two tech giants stand to take home a significant portion of any revenue generated from Ticketed Spaces events, despite not effectively playing any role in facilitating them directly.
In general, the efforts of Twitter to provide more financial incentive to keep creators posting, and keep them and their fans engaged within the app have been quite welcome.
As of now, anyone with 600 followers or more on Twitter, has the 'Spaces' feature.
Twitter is also rolling out Spaces scheduling, and reminders for Spaces in the coming weeks, helping to keep the audience connected.
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