Facebook Launches Pay-Per-View Service

Pay-Per-View Gets an Overhaul

Facebook (FB) is gearing up to turn its live online events platform into a pay-per-view service which will help sports teams make money by broadcasting their games online.

The social media giant is targeting sports companies, high school sports teams, and smaller sports leagues with the new pay-per-view service. Viewers will be able to pay for virtual tickets through Facebook’s live streaming platform and then watch the live event. It will be similar to how viewers might pay to watch a live boxing match on cable.

Facebook’s Plans for its Platform

Facebook’s foray into pay-per-view events is in its early stages. Facebook launched paid online events last August and the service is now available in 44 markets across the globe. Through the platform, users request permission to host an event and then after Facebook conducts an integrity check it usually approves the request. The system can be used to host live streams, classes, gaming tournaments, and more.

Facebook is now working to attract people who will use the service for live sports. So far these efforts have been successful. March for Challenge Miami, a professional triathlon event, sold tickets on the Facebook platform for $2.99 each. More than 17,000 people viewed the event.

Pricing for the New Service

Facebook is not currently taking a cut of the revenue content creators make from selling tickets on its platform. But that grace period ends in August, unless Facebook decides to extend it. The company plans to provide an update on fees in the next few weeks. Facebook might also begin putting ads on the platform, though it has not yet announced plans to do so.

Facebook’s new pay-per-view service is still in its infancy and the company is still working to determine what it will look like in its final form. As pandemic restrictions ease, there are many unanswered questions about the future of virtual entertainment. Facebook is making a bet that consumers will still be eager to stream events and sports at home—even when in-person entertainment options are available.

Things are changing daily within the financial world. Sign up for the SoFi Daily Newsletter to get the latest news updates in your inbox every weekday.

Sign up

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

ABOUT Meg Richardson Meg Richardson is a writer specializing in markets, technology, and personal finance. She loves breaking down seemingly complex ideas and making them readable and interesting for everyone. She holds an MFA in writing from Columbia University. When she is not writing about finance, she enjoys running in Central Park and drawing cartoons.

TLS 1.2 Encrypted
Equal Housing Lender