June 23, 2021 2:08:54 pm
Twitter is rolling out a beta program called Ticketed Spaces, which will be a new monetisation tool for its Spaces audio features. Spaces is the live audio chat option on Twitter, which has rolled out to all users with more than 600 followers on the platform.
Twitter had said it is rolling out an application program for individuals who will be able to see the application process on Android and iOS. However, it will be restricted to users based in the US for now. It is also introducing applications to be part of the test groups for Super Follows, which is an upcoming subscription-based feature aimed at creators on the platform.
According to Twitter, people will be eligible to earn up to 97 per cent of revenue from these features after in-app purchase fees, which means in effect it will only charge 3 per cent as fees, but there’s a catch. This 3 per cent revenue cut is only till someone earns $50,000; after this Twitter plans to charge 20 per cent revenue share.
In a series of tweets Esther Crawford, Senior Product Manager at Twitter explained that the company’s “goal is to elevate people driving the conversations on Twitter and help them earn money,” adding that they updated revenue share cuts “after spending more time thinking about how we could support emerging voices on Twitter.”
She added that “Twitter will keep up to only 3 per cent of revenue after in-app purchase fees until they make $50K in lifetime earnings. After this point, Twitter’s share will increase to up to 20% of future earnings after fees. We want to ensure that emerging voices are able to earn money, which is why they’ll be eligible to earn a larger share starting out.”
Crawford has also explained why they are setting $50,000 as a limit because it shows that earning this amount from Super Follows and Ticketed Spaces that the creator is getting “value from these features” and that they’re helping them in making money.
Twitter is not the only player looking at new monetisation strategies for creators. Rival Clubhouse has said it will allow users to tip creators and is currently testing the feature with select US users. The rise of social networks such as OnlyFans, and Patreon has also provided new monetisation tools for creators on social networks.