Facebook is looking to expand its paid event tools
Looking forward platform Facebook is expanding the feature of paid events to small leagues and local sports, giving these smaller competitions more opportunities to generate income, while attracting more viewers to Facebook, which helps boost its video offerings.
The social media giant envisions high school sports teams and smaller leagues using the feature that allows users to make money in exchange for virtual attendance, and to preserve ticket earnings for the time being.
Facebook plans to invest in paid events online, a live broadcast feature that allows you to pay for a virtual ticket to watch, such as pay-to-watch via cable.
Facebook launched for the first time the option of paid events last August, as a way to help artists, in particular, to generate income amid the closures caused by the Corona virus.
Through this process, users can create events that require payment to access them, noting that Facebook does not currently take any commission and the full amount is handed over to the content creator.
The next stage on Facebook could see the creation of a list of local sports matches, all of which can be accessed via digital tickets, allowing viewers to listen from anywhere, and building a new ecosystem for direct sports participation.
The Twitter platform tried the same approach with the live broadcast of various second-class sports competitions, with the aim of building specialized followers and increasing its live video stock.
This led to mixed results, but the difference in the case of Facebook is that these events will be tickets, which provides the possibility of direct revenue for sports tournaments, and increases the incentive for the promotion of such among the loyal fans.
This can also have benefits for advertisers, by providing promotional opportunities among subgroups of more specific audiences.
It might not be a very lucrative market for Facebook ads, but if it can build a list of these smaller sports leagues and provide ad opportunities dedicated to a group of companies, it could be beneficial to them if they can implement it properly.
This move comes before the company thinks about getting a commission from ticket prices, which is something on the horizon. Given this, it makes perfect sense for Facebook to look to expand its paid event tools in this way.
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