Twitter is aggressively deploying new features that monetize the platform. ‘Ticketed Spaces’ is yet another feature the micro-blogging network has added as special premium or paid areas within the platform.
After deploying Super Follow and experimenting with Tip Jar, Twitter is offering ‘Ticketed Spaces’. As the name suggests, the feature creates a special zone for paying members.
What is Twitter Ticketed Spaces, and how to use the same to earn money from the micro-blogging network?
Twitter Ticketed Spaces is basically a special zone that members with 1000+ followers can create to monetize their “exclusive” or “bonus” content. The micro-blogging network is currently experimenting with the feature with U.S. residents.
With Ticketed Spaces, US users will be able to apply to host paid live audio rooms starting in the next couple of weeks. Basically, the feature appears to be similar to ‘Clubhouse’.
— Rich Greenfield, LightShed (@RichLightShed) May 21, 2021
Twitter members who have at least 1000 followers qualify to apply for creating paid Spaces. These members must have hosted three spaces in the past 30 days, and be at least 18 years old.
The company has been expanding its Clubhouse-like feature that lets people with at least 600 followers create audio-only events. Twitter called it Spaces. Ticketed Spaces would enable users to charge for entry to these rooms.
Ticketed Spaces: we’re working on a way for hosts to be rewarded for the experiences they create and for listeners to have exclusive access to the convos they care about most. soon, we’ll test ticketed Spaces with a small group where hosts can set ticket prices and quantity pic.twitter.com/uHxxvmo3wC
— Spaces (@TwitterSpaces) May 3, 2021
Ticketed Spaces hosts will be able to set the entry prices as well as the number of tickets available. “Hosts can earn up to 80 percent of the revenue on ticket sales after platform fees are deducted on in-app purchase sales.” In other words, Twitter intends to take a 20 percent fee after the cut that Google and Apple take from the Android and iOS in-app payments.
Twitter partners with payment processing merchant Stripe to facilitate sales:
Ticketed Spaces will use payment processing merchant Stripe to facilitate sales. This means Twitter members who wish to host an event using the feature must have Stripe account.
Simple math, explained by The Verge, states if hosts sell a $10 ticket, Apple should grab its 30 percent ‘Apple Tax’, leaving the hosts and Twitter to split the remaining $7.
Twitter launching "Ticketed Spaces" soon, with the following revenue split:
• Creator: 56%
• Apple/Google: 30%
• Twitter: 14% pic.twitter.com/0onIuAPA53
— Veer (@sktveer) May 21, 2021
Of the $7, 80 percent or $5.6 would go to the host, and 20 percent ($1.4) would go to Twitter. The company has indicated it will cover the cost of Stripe’s transaction fees.
Tweeternomics for the Creator Economy:
– Funding Ind. Creators: SuperFollows, Revue newsletters, and Ticketed Spaces
– Funding the platform: Twitter Blue and commission from hosted services.
— Mando Gonzalez 🤙🏻 (@manditodude) May 21, 2021
The application process for Twitter Ticketed Spaces is yet to open. Members can apply to be part of the test group within its app.
Twitter plans to select its first set of hosts a few weeks after applications open. Anyone in the world, with a Twitter account, can buy tickets to such paid Spaces. However, only those in the US can sell tickets for now.