Twitter is all set to launch its Ticketed Spaces feature within few weeks. Today, Twitter has officially discussed the previews of this monetized feature. It has set minimum followers requirement to enable the ticketed spaces.
What is Ticketed Spaces?
Live audio chat has become very popular since Clubhouse was launched. It has provided a unique way to communicate with the users in an audio room of like-minded people. Spaces, an inbuilt feature on Twitter, also provides the same feature as Clubhouse does.
Due to the huge subscribers base, Spaces has attracted a penalty of users in short times. Now, Twitter is on the way to monetize this feature. First, it will test the monetization feature in the US, then it may release it slowly in other parts of the world.
Talking about it further, Twitter said that 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.
Twitter is collaborating with Stripe, the most popular online payment processing platform in the US for payment processing.
Users will get 80% revenue of the ticketed Spaces after cutting the 30% charges of in-app purchases applied by Google and Apple.
If you sell Spaces tickets of $100, Google or Apple will receive the $30 as in-app purchases charges depending upon your platform. Now, from the remaining $70, Twitter will get 20% and Spaces owner will get 80%. Stripe transaction charges will be paid by Twitter.
To enable the monetization feature, it is compulsory to have a Stripe account.
How new feature will be rolled out initially? Answering this question, a Twitter spokesperson said:
“Initial applications, when they open, will be processed within a few weeks, and the team plans to start with a small test group. Although only US users will be able to host these ticketed spaces, for now, anyone around the globe can purchase access.”
Twitter will Bring More Monetization Features Soon
In the last few years, Twitter has pressure to increase its revenue by the major investors. To achieve that, Twitter has acquired few startups and it is also working to monetize the platform by different methods. One of them is Spaces monetization that is going to implement very soon.
Super Follows is another monetization method that will be launched in the coming months. Under this feature, users will pay for premium content or bonus content provided by the person they follow. Bonus contents may include exclusive tweets and newsletter subscriptions.
To implement newsletter subscriptions, Twitter has already acquired Revue. But Twitter did not reveal the earning split method. Whether it will be the 80:20 ratio or some other model.
Twitter blue is another subscription-based product that will be available in the future. This monetization method will bring extra features including undo tweets.
Recently, Twitter also launched Tip Jar to help the content creators in earning some money based on their quality of service provided to the world.