View the latest business news about the world's top companies

No data to display.

Facebook plans to convert sports live events into pay-per-view

PUBLISHED ON 2021-05-20 00:11:00 EST Shubhangi


The social media giant, Facebook is planning to convert its live online events into pay-per-view option for sports leagues which use the platform for broadcasting their games.

Facebook says the move will help make more money for businesses including sports companies.

Facebook says that high school sports teams and smaller leagues would make money using the feature and could keep the profit tickets for now. The company is also planning to invest in paid online events.

"I think pay-per-view is by no means on any verge of extinction," said Rob Shaw, Facebook director of sports media and league partnerships, in an interview with CNBC. "I think this is something that helps breathe new life into it. People are willing to pay to experience a moment."

"One thing I've noticed, though," he added. "I don't think people are willing to immediately start with a subscription."

Facebook launched the “paid online events” feature in 2018 and is available in 44 markets globally since then, including US.

To use the feature, users have to request access to host an event and have to pass integrity checks. After it is done, Facebook also monitors events to prevent explicit content.

Until now, creators of the events receive entire revenue from tickets and Facebook also does not charge fees currently. 

(With inputs from CNBC)

Picture Credits: CNBC

Stock View