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| Facebook is looking to expand its paid event tools |
Facebook hopes to expand the functionality of paid tournaments to smaller tournaments and local sporting events to create more income opportunities for these smaller tournaments while attracting more viewers to Facebook, which will help grow its video products.
Social media giants are using this feature to visualize high school sports teams and junior leagues. This feature allows users to earn money in exchange for virtual attendance and get temporary ticket income.
Facebook is planning to invest in paid events online, a real-time streaming feature that allows you to pay for viewing virtual tickets, for example over cable TV.
In August last year, Facebook first introduced the option of paid activities, including helping artists generate income during a downtime due to the coronavirus.
This process allows users to create events that require payment to be accessed. Please note that Facebook does not currently charge any commission and is forwarding all payments to creators.
Facebook's next stage will allow you to create a series of local sports competitions, all accessible via digital tickets, so viewers can listen from anywhere. A new ecosystem has also been created for direct participation in sports competitions.
The Twitter platform uses the same method to experience the live broadcasts of various second-class sports with the aim of building an engaging following and increasing the live video inventory.
This had mixed results, but what differs from Facebook is that these events are tickets, which provides an opportunity for direct income to sporting events and increases the motivation to promote such events among the faithful.
Advertisers can benefit by gaining advertising opportunities in more specific audiences.
It might not be a very lucrative market for Facebook ads, but if it can list these small sports tournaments and offer specific advertising opportunities to a group of companies then it may be possible, if implemented correctly, then it will be beneficial to you.
Before that, the company wasn't even considering taking a commission on ticket prices, which were so forthcoming. With that in mind, it makes sense that Facebook would expand its paid events toolkit in this way.