Facebook has just launched a new product to let businesses monetise online events and classes. The ‘paid online events’ feature is currently free and available to eligible business pages in the following 20 countries:
- Czech Republic
- United States
- United Kingdom
Using this feature, businesses can create an event and promote it to their followers organically or via Facebook ads. They can also collect registration fees by linking their bank account and also host the event on the social media platform.
In a blog post, Vice President and Head of Facebook App, Fidji Simo noted how live broadcasts from Pages had doubled in June 2020 as compared to the same period last year. He highlighted how, due to social distancing measures, many businesses and creators had brought their services online to connect with their existing customers and to reach new ones. He said people were relying more and more on live video and interactive experiences as they couldn’t be together physically.
Simo shared how the company had successfully tested the new feature prior to its launch. He wrote, “In testing, we’ve seen businesses use Facebook to host expert talks, trivia events, podcast recordings, boxing matches, cooking classes, intimate meet-and-greets, fitness classes and more.”
He further said that in order to support small businesses (SMBs) and creators during the pandemic, the social media site would not charge “any fees from paid online events for at least the next year.”\
Previously, the company announced cash grants and ad credits worth $100 million to support small businesses affected by Covid-19. It also launched Facebook Shops to give a platform to SMBs to sell their products online. The new events feature is being promoted as another initiative by the social media giant to help small businesses survive and thrive in the current economic climate.