Coronavirus has halted the music industry — and severely impacted the incomes of musicians. During this trying time, Facebook announced that it would begin charging for livestreams in order to allow musicians and other creators to monetize their performances.
Livestreams have become the new norm amid the global pandemic; musicians, artists, Broadway casts, and other live performers have taken to services like Facebook, YouTube, Instagram, and Switch to interact with fans, keeping some sort of normalcy alive. Now, Facebook will launch more ways for people to connect when they’re apart, including monetizing streams and Messenger Rooms.
“To support creators and small businesses, 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,” the social media platform said in a statement this week.
Facebook did not reveal any further details, including when that option will become available or whether or not there is a limit on how much a performer can charge. Additionally, the site announced it will add its “Stars” system to tip musicians, allowing users to send them a “Star,” worth $.01 per tip, along with a “galaxy of stars.”
In the past, Facebook and its owned Instagram Live have not monetized their streams, aside for certain donations made to non-profit organizations through the site. However, as the pandemic keeps venues shut down, this may be a new option going forward to keep live music afloat.
See the full list of upcoming livestream performances via Live Nation’s LiveFromHome series here.
