Categories
Facebook Won’t Introduce Revenue Share Until 2023

Facebook Won’t Introduce Revenue Share Until 2023

June 07, 2021 at 11:55PM
by PYMNTS

Facebook CEO Mark Zuckerberg has rolled out new ways for creators to monetize their work, per a Facebook post and press release emailed to PYMNTS.

Zuckerberg announced in a post on Monday (June 7) that paid online events, fan subscriptions, badges and a forthcoming news product will be free for creators until 2023.

Facebook plans to introduce revenue share at that point, which will be less than 30 percent, which is what competitor Apple charges for fees for app developers and companies listing on the app store.

According to the release sent to PYMNTS Monday (June 7), the social media giant is also rolling out a new interface to let creators see more details about payouts, including being able to see where the payouts will be after taxes, refunds and applicable in-app purchase (IAP) fees from purchases made on iOS and Android devices.

At first, that interface will be available on the web for paid online events.

Meanwhile, in other tech-related news, Apple is hosting its annual app developers’ conference but has also been recently criticized for the way its App Store works, PYMNTS wrote.

According to news reports, Apple has been facing pushback from several sectors, including popular podcaster Marco Arment, who said recently Apple needs to acknowledge some “obvious truths” in the App Store. He said the commission fees are hefty because the apps that pay the fees have value to iOS beyond what they contribute to the Apple bottom line. And, in addition, the fact that customers come to the apps via other ways beyond Apple’s store also makes a case for changing practices.

“Without our apps, the iPhone has little value to most of its customers today,” he said, according to PYMNTS.

The App Store has been a point of controversy as of late because of the lawsuit from Epic Games over being kicked off the App Store for making its own in-app payment option, which went against Apple’s rules.