Facebook announced this week that businesses, creators, educators and media publishers can now earn money through online events on Facebook. With the whole world committed to social distancing and stopping the spread of Covid-19, page owners will be able host events and collect money through Facebook paid online events.
Through testing Facebook saw businesses host talks, trivia events, podcasts, boxing matches, cooking classes, meet-and-greets, fitness classes and more. Page owners in 20 countries will be able to start charging for events as online events has seen a large increase due to government restrictions being put in place across the world.
No Fees To Be Collected Over The Next Year
As Facebook continues to support small and medium size businesses, they won’t be collecting any fees from paid online events for at least the next year. In their State of Small Business Report with OECD and World Bank, they found access to cash was the most ongoing problem for SMBs and only 19% of surveyed businesses were getting financial help. Web and Android payments through Facebook Pay will also receive 100% of the revenue. Apple declined to reduce its 30% App Store tax or allow Facebook Pay to absorb costs for struggling businesses. This will mean businesses will only earn 70% of their revenue through Apple.