Twitter has ramped up its focus to help creators on its platform. It has added a new option for users to create Ticketed Spaces events.
You can apply for the new process by signing up to Twitter’s rules on paid events.
“US users will be able to apply to host paid live audio rooms starting in the next couple weeks. Anyone who wants to charge has to have 1,000 followers, have hosted three spaces in the past 30 days, and be at least 18 years old,” reports The Verge.
After approval, you can set up a Ticketed Space through the regular Spaces process. Then, you can schedule the event.
Creators can choose the number of tickets for the Spaces and set an amount. They will take home 80% of the earnings, after app store fees, from ticket sales.
Tech analyst Ben Thompson says it means Apple and Google app stores will take a slice of any revenue generated from these events. And they did not play a direct role to help the creators.
Tax implication is a bigger discussion. Epic Games is in a legal battle against Apple due to this. And regular Twitter creators may consider this a realistic challenge.
Twitter has teamed up with Stripe to help with the payment process. Users must set-up a Stripe account in the initial stages.
The option will be rolled out to more regions, But Twitter will bring more payment providers in the future for flexibility.
A slew of monetization tools
Ticketed Spaces is Twitter’s latest push to offer more financial incentive to its creators. It keeps them posting regularly and have their fans engaged in the app.
Over the past few months, Twitter has also announced the following: Revue integration, a Super Follow option, and Tip Jar donations.
All of those updates are on top of a subscription service to allow users to pay for premium Twitter features and tools every month.
After transactions happen through tweets, Twitter will add ecommerce options. It gives users more ways to earn through influencer marketing partnerships.
TikTok has become a bigger player in social media. And Facebook has ramped up ways to earn money. Both popular apps want to keep its top stars aboard. And they want to lure more creators.
These apps paved the way for all platforms to keep up with the industry leaders. Without their top stars’ creating content regularly, they will lose audience share fast.
As a top social network, Twitter must join the bandwagon. The addition of more monetization options will establish a better creator ecosystem for Twitter. It keeps the tweets flowing, and boosts user engagement.
If done vigorously, Twitter may beat Clubhouse in its own turf as well. Twitter Spaces’ audio social service has led to the slowdown in user growth for Clubhouse. Twitter’s Ticketed Spaces will roll out in the US in the coming weeks, followed by other regions.