Twitter Expands Spaces to Users With 600+ Followers, Eyes more Revenue with Ticketed Spaces
If you have been wondering why you have not seen the Spaces feature on your Twitter dashboard, it may just be that you do not have up to 600 followers. The team at Twitter announced that Spaces will now be available to everyone with the specified amount of followers for now before it is later accessible to everyone.
One of the limitations to Spaces is that people can not search for and explore all the live audio events at any particular time. However, this is about to change as the bird app will soon get a feature that allows users to explore all live spaces and join the ones that interest them.
With Q1 earnings that fell shy of analysts’ expectations on user growth and revenue, Jack and the Twitter team are looking into more ways to increase the company’s revenue.
Is ticketed spaces the answer?
Just like on Clubhouse where the audio frenzy started, Spaces will soon give audio creators the ability to sell tickets for an event. A specific number of tickets will be attached to a Space that is scheduled to go live and then people who want to participate can buy tickets and be booked for the event.
What happens when people forget that they wanted to attend a Space? A feature that sets reminders for each event will be rolled out in the coming weeks, according to the company. Other new features are co-hosting, a laughing emoji to capture user’s reactions and improvements to Live Captions.
Ticketed Spaces is another business prospect for Twitter, although there are limits to how much profit can be generated from it.
According to a Beebolve study, the average Twitter user has 200 followers. This implies that only a much smaller percentage of Twitter’s 330 million followers will be able to create Spaces or charge money for it. The pricing is not dependent on Twitter, therefore, the Space creator can set the price of tickets as desired.
Unlike Clubhouse, the bird app’s team will charge a small percentage on the amount made from each ticket while the majority of the money goes to the creator. All of these factors will determine how much of a boost Ticketed Spaces can give to Twitter’s earnings after it goes live.
Twitter’s Q1 report indicated a 7% growth in daily monetizable users which brought the number to 199 million. In its report, the company defines monetizable daily active users (mDAU) as “users who logged in or accessed Twitter on any given day through Twitter.com or Twitter applications that are able to show ads.”
This means that the target audience for Ticketed Spaces is within the 199 million user bracket. It further brings down the potential revenue from Ticketed Spaces when the 600-follower rule is applied. A small billable audience is better than a zero billable audience, however, and the launch of tickets will be a good one for Twitter if the expenses are kept at a minimum.
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