Twitter’s THIS new feature will allow creators to rake in the cash

New Delhi: Twitter’s newly launched feature Spaces is finally make more sense now. The microblogging platform has announced that it’ll allow creators on the app to earn money from ‘Ticketed Spaces’.

Twitter Spaces is basically a rival of popular audio-only social media platform Clubhouse, which allows anyone to create their rooms in the app. 

In the process, Twitter will also make some money, as the micro-blogging platform will take a 20 per cent cut of ticket sales. The monetization feature will begin with the users in the US.

The microblogging platform said that a 20% cut will cover the cost of transaction fees of online payments processing company Stripes. According to a report by The Verge, hosts will also need a Stripe account to start ticketing their Spaces. 

Twitter users in the US will be able to apply for hosting paid live audio rooms in the next couple of weeks. "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," the report said on Friday.

Taking all other fees into consideration, users will receive an 80% cut on the sales of tickets of their Spaces. The 20% cut taken by Twitter will also include Apple and Google`s in-app purchase fees.  

"So if you sell a $10 ticket, Apple would presumably take a 30 percent cut, leaving you and Twitter to split the remaining $7. Eighty percent would go to you, and 20 percent would go to Twitter," the report mentioned.

Twitter will let hosts fix the ticket prices and how many tickets they want to sell. Currently, Twitter lets users with over 600 followers or more host Spaces on the Android and iOS version of the platform. New Delhi: Twitter’s newly launched feature Spaces is finally make more sense now. The microblogging platform has announced that it’ll allow creators on the app to earn money from ‘Ticketed Spaces’.

Twitter Spaces is basically a rival of popular audio-only social media platform Clubhouse, which allows anyone to create their rooms in the app. 

In the process, Twitter will also make some money, as the micro-blogging platform will take a 20 per cent cut of ticket sales. The monetization feature will begin with the users in the US.

The microblogging platform said that a 20% cut will cover the cost of transaction fees of online payments processing company Stripes. According to a report by The Verge, hosts will also need a Stripe account to start ticketing their Spaces. 

Twitter users in the US will be able to apply for hosting paid live audio rooms in the next couple of weeks. "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," the report said on Friday.

Taking all other fees into consideration, users will receive an 80% cut on the sales of tickets of their Spaces. The 20% cut taken by Twitter will also include Apple and Google`s in-app purchase fees.  

"So if you sell a $10 ticket, Apple would presumably take a 30 percent cut, leaving you and Twitter to split the remaining $7. Eighty percent would go to you, and 20 percent would go to Twitter," the report mentioned.

Twitter will let hosts fix the ticket prices and how many tickets they want to sell. Currently, Twitter lets users with over 600 followers or more host Spaces on the Android and iOS version of the platform.

- With agency inputs.