Twitter has recently introduced an exciting update to its Spaces feature, enabling creators to monetize their live audio events with Ticketed Spaces. This new feature is part of Twitter’s ongoing effort to enhance its platform for content creators while diversifying revenue streams. Here’s a detailed look at how Ticketed Spaces work and the impact this new feature can have on creators and users alike.
Eligibility Requirements
To unlock the ability to host Ticketed Spaces, creators must meet a set of eligibility criteria. Users are required to have a minimum of 1,000 followers and have hosted at least three Spaces in the past 30 days. Additionally, they must be at least 18 years old. These criteria ensure that creators who are eligible to host monetized events have an active and engaged audience. Applications to host Ticketed Spaces are processed through the Monetization tab within the Twitter app, making it simple for creators to get started with the feature once they meet the requirements.
Revenue Model
One of the most exciting aspects of the new Ticketed Spaces feature is the revenue-sharing model. Creators are entitled to 80% of the ticket sales, minus any fees taken by the app store. For example, if a creator sets a $10 ticket price, both Apple and Google take a 30% commission, leaving the creator with $7 from each ticket sold. After this, Twitter’s platform facilitates a 80/20 split, so the creator receives $5.60 from each ticket sale. The payments are processed through Stripe, ensuring smooth financial transactions for creators. This generous revenue split offers creators a significant incentive to produce high-quality, engaging audio events, knowing that they can earn a substantial amount from their work.
Ticket Pricing and Audience Control
Ticketed Spaces gives creators control over pricing and audience size. Creators can set ticket prices ranging anywhere from $1 to $999, allowing for flexibility based on the type of content or event being hosted. Whether creators want to host an intimate session with a small audience or a large event with thousands of listeners, this flexibility opens the door to a wide range of monetization possibilities. The ability to adjust ticket prices also allows for experimentation with different pricing models to see what resonates best with their audience.
Monetization Strategy
Ticketed Spaces is part of Twitter’s broader strategy to diversify its revenue model beyond traditional advertising. With platforms like Instagram, YouTube, and Facebook also moving toward monetization features for creators, Twitter has embraced this trend to stay competitive in the digital space. In addition to Ticketed Spaces, Twitter has introduced features like Super Follows, allowing creators to charge followers for exclusive content, and the rumored Twitter Blue subscription service, which will offer premium features to paying users. By incorporating multiple revenue-generating features, Twitter is providing creators with a diverse toolkit to earn money while creating content. This move also positions Twitter as a significant player in the live audio streaming space, offering creators a competitive platform for monetizing their passion.
Why Digilogy is Your Trusted Partner in Digital Marketing
If you’re a creator looking to expand your digital presence and monetize your efforts on platforms like Twitter, Digilogy is here to help. As experts in digital marketing, we offer tailored solutions that can help you grow your audience, enhance engagement, and optimize your revenue strategies. Whether you’re hosting live audio events on Twitter or exploring other social media opportunities, We provide the tools and strategies necessary to succeed in today’s fast-paced digital landscape. Get in touch with Digilogy today to take your brand and content to the next level.
