As many artists and bands are losing money due to show and tour cancellations, a lot of them are turning to livestreaming shows from homes or venues. While this option is practical for the current situation, it does not fix the problem of financials. However, this will change soon, as Facebook will be adding the option to charge viewers who wish to view a livestream.
"To support creators and small businesses," said the announcement, "we plan to add the ability for Pages to charge for access to events with Live videos on Facebook - anything from online performances to classes to professional conferences."
Facebook made their announcement on Apr. 24, but the concept was not elaborated on beyond the initial idea. On top of offering the paid option, events can also be marked as "online only" since there are not currently any in-person events.
The announcement also mentioned livestreaming updates being made for Instagram, but this does not include the ability to charge viewers. For Instagram, desktop users will now be able to view live videos. Additionally, the option to save live videos for longer than the current 24-hour period will be added.
In regards to Facebook's monetization of live events, it is not certain how commission will be split between the site and the host. Facebook will be announcing more on the subject on a later date.