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Monday, June 07, 2021 2:35:05 PM
Facebook won't take a cut of creators' earnings until 2023
By: Engadget | June 7, 2021
• Mark Zuckerberg took a shot at Apple in his announcement.
Facebook CEO Mark Zuckerberg says the company won't take a percentage of creators' revenue until 2023. The policy covers paid online events, fan subscriptions, badges and "upcoming independent news products" (in other words, newsletters). When Facebook does start taking a cut, "it will be less than the 30 percent that Apple and others take," Zuckerberg wrote in a Facebook post.
He noted Facebook is building a "new payout interface so creators can see how different companies' fees and taxes are impacting their earnings." A Facebook spokesperson told Variety creators will see how much they'll make after taxes, refunds and the in-app purchase fees Apple and Google take when purchases are made through iOS and Android apps. The interface will be on the web only at first and only for paid online events to begin with. That's a clear move to make Facebook seem like a more attractive option than competitors like Twitch, Twitter and Substack.
Facebook made the announcement ahead of Apple's Worldwide Developers Conference kicking off on Monday. A Bloomberg report over the weekend suggested Apple will reveal "a control panel that provides in-depth detail on what data are being collected by each third-party app installed on a user’s device." The payout interface might be a response to that move, since Zuckerberg clearly took a shot at Apple in his post.
Apple and Facebook have been at loggerheads for quite some time. One of the major recent bones of contention is an option to limit cross-app tracking in iOS 14.5, which Facebook claimed would impact its ad revenue.
Facebook, of course, isn't the only major company to target Apple over its 30 percent revenue cut. Apple and Epic Games are awaiting a ruling on a case related to what the Fortnite publisher claims are monopolistic practices on the App Store, which include revenue sharing.
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By: Engadget | June 7, 2021
• Mark Zuckerberg took a shot at Apple in his announcement.
Facebook CEO Mark Zuckerberg says the company won't take a percentage of creators' revenue until 2023. The policy covers paid online events, fan subscriptions, badges and "upcoming independent news products" (in other words, newsletters). When Facebook does start taking a cut, "it will be less than the 30 percent that Apple and others take," Zuckerberg wrote in a Facebook post.
He noted Facebook is building a "new payout interface so creators can see how different companies' fees and taxes are impacting their earnings." A Facebook spokesperson told Variety creators will see how much they'll make after taxes, refunds and the in-app purchase fees Apple and Google take when purchases are made through iOS and Android apps. The interface will be on the web only at first and only for paid online events to begin with. That's a clear move to make Facebook seem like a more attractive option than competitors like Twitch, Twitter and Substack.
Facebook made the announcement ahead of Apple's Worldwide Developers Conference kicking off on Monday. A Bloomberg report over the weekend suggested Apple will reveal "a control panel that provides in-depth detail on what data are being collected by each third-party app installed on a user’s device." The payout interface might be a response to that move, since Zuckerberg clearly took a shot at Apple in his post.
Apple and Facebook have been at loggerheads for quite some time. One of the major recent bones of contention is an option to limit cross-app tracking in iOS 14.5, which Facebook claimed would impact its ad revenue.
Facebook, of course, isn't the only major company to target Apple over its 30 percent revenue cut. Apple and Epic Games are awaiting a ruling on a case related to what the Fortnite publisher claims are monopolistic practices on the App Store, which include revenue sharing.
Read Full Story »»»
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