This archive report was first published on 14 May 2020.
As the world grapples with the COVID-19 pandemic, social media platforms have become a lifeline for artists and creators to connect with their audiences. Facebook, in particular, has seen a surge in popularity among musicians livestreaming their performances since the lockdown began.
However, monetizing these streams has been a challenge, with the only option being donations to certain non-profit organizations. This is set to change with Facebook's introduction of paid livestreams for musicians and other creators.
According to an announcement by the company, users will soon be able to set up 'online-only' events and charge for access to content. Non-profits will also be able to add a donate button to their streams.
Facebook's move is part of a broader effort to support creators and small businesses during these challenging times. The company has also announced that it will be expanding its 'Stars' tipping system to musicians, allowing fans to show their appreciation for their favorite artists.
As the pandemic continues to force people into their homes, a new breed of influencer is emerging online. Public figures and creators are finding new and creative ways to connect with their communities and engage with them.
From virtual concerts to augmented reality shows, the possibilities are endless. And with Facebook's introduction of paid livestreams, musicians and creators will finally have a way to earn money from their online performances.
As the world waits with bated breath for the return of live concerts, one thing is clear: the future of entertainment is online.
