21 May 2021
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2 min.
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Online streaming
Facebook intends to improve the monetization of its Facebook Live product for live online streaming by including the ability to sell viewings of sporting events. Facebook plans to start by partnering with regional organizers and teams looking to earn more from their events.
Facebook's (FB) creative team continues its efforts to increasingly monetize its huge audience of more than 2.85 billion monthly active users and 1.8 billion daily active users.
Facebook's current plans are to improve the monetisation of its Facebook Live product for online streaming events through the connection of more paid sports content.
Facebook claims that this will help businesses, including sports, make more money in a changing content consumption environment.
Today, Facebook Live is already providing an income opportunity for small businesses: various consultants, coaches, music coaches, fitness coaches, presenters of various workshops and so on.
Yoav Arnstein, Facebook's director of product management, believes that online paid sports events also have the potential to grow and enable organizers worldwide to make money. Today, those organizers make money in two ways: by selling broadcast rights and tickets for offline events. Facebook plans to start by partnering with regional organisers and teams looking to earn more from their events.
Facebook's director of sports media and league partnerships, said the company could benefit from the fact that some users would prefer to pay a one-time fee to watch a particular sporting event online rather than pay a monthly subscription.
As an example of the success it's already had, Facebook said the online streaming of this March's Challenge Miami professional triathlon event was watched by 18,300 people, with users buying tickets for $2.99. That's more than the event could have attracted for offline viewing, with 70% of viewers coming from outside the US.
Since Facebook Live launched last August, the company said, paid online events have become available in 44 markets around the world, including the US.
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