Twitter announced in early May that it would be bringing Ticketed Spaces to its live audio rooms, Spaces. This will allow creators to monetize their Spaces using a ticketed system.
Ahead of the feature's launch, Twitter has previewed how Ticketed Spaces will work, the minimum requirement one must fulfill for hosting a paid Spaces, and how much revenue share it will take as platform fees.
Ticketed Spaces Will Be Available in the US Initially
Twitter has previewed Ticketed Spaces to The Verge and detailed the various requirements a creator must fulfill to host a paid Spaces. The feature will go live in the US by the first week of June.
To be eligible to host a Ticketed Spaces, you must have over 1,000 followers, be over 18 years old, and must have hosted three Spaces in the last 30 days. Twitter is partnering with Stripe to handle the payments for Ticketed Spaces, and you must also have a Stripe account.
Despite Ticketed Spaces being available only in the US, any Twitter user worldwide would be able to purchase tickets.
Twitter Details Ticketed Spaces Revenue Sharing
As for revenue sharing, Twitter says you will get 80 percent of the revenue after Apple and Google take their cut. So, for example, if you sell a ticket for $10, Google or Apple will first take 30 percent of the cut.
From the remaining $7, you will get $5.6, with the remaining amount being taken by Twitter. The company is also covering Stripe's transaction fees as a part of its platform fees.
Despite rolling out Ticketed Spaces in early June in the US, Twitter will only be making it available to selected applicants initially. The first applications will be processed within a few weeks. The company wants to try out Ticketed Spaces with a small group of participants first before opening it up to everybody that meets the criteria.
Twitter Rapidly Adding New Features to Spaces
Twitter has been rapidly developing Spaces and adding new features to it. The company opened Spaces to anyone with over 600 followers in early May. It also announced some other new features for Spaces, including the ability to schedule reminders for upcoming Spaces. The company is also working on allowing creators to co-host a Space with multiple speakers.
In comparison, Twitter Spaces' primary competitor, Clubhouse, only recently launched on Android, and it continues to be available on an invite-only basis.
Twitter is working on a subscription service called Twitter Blue as well, as a part of which it will offer additional features to subscribers for $2.99/month.
