Twitter Expands Spaces For Users With 600+ Followers And Intends To Increase Revenue Through Ticketed Spaces
Twitter Expands Spaces for Users with 600+ Followers and Intends to Increase Revenue Through Ticketed Spaces
If you're wondering why you don't see the Spaces feature on your Twitter dashboard, it's possible that you don't have enough followers to qualify. The Twitter team announced that Spaces would initially be available to anyone with a specified number of followers before being made available to everyone.
One of Spaces' limitations is that users cannot search for and explore all live audio events occurring at any given time. This will soon change, as the bird app is about to receive a feature that will enable users to explore all live spaces and join those that interest them.
With Q1 earnings falling short of analysts' expectations for user growth and revenue, Jack and the Twitter team explore additional revenue-generating opportunities.
Is Ticketed Spaces The Answer?
As with Clubhouse, which sparked the audio frenzy, Spaces will soon enable audio creators to sell event tickets. A predetermined number of tickets will be associated with each Space that is scheduled to go live, and participants will be able to purchase tickets and be booked for the event.
What happens when people forget they wanted to go to a Space in the first place? According to the company, a feature that automatically sets reminders for each event will be rolled out in the coming weeks. Additionally, co-hosting is now available, as is a laughing emoji for capturing user reactions and enhancements to Live Captions.
Ticketed Spaces is another revenue stream for Twitter, though its profitability is limited.
The average Twitter user has 200 followers, according to a Beebolve study. This means that only a fraction of Twitter's 330 million users will be able to create Spaces or charge for them. Because Twitter does not determine the pricing, the creator of the Space can set the price of tickets however they wish.
Unlike Clubhouse, the team behind the bird app will take a small percentage of the revenue generated by each ticket, with the majority of the revenue going to the creator. All these factors will have a siginificant contribution in determining how much revenue boost Ticketed Spaces can provide to Twitter following its launch.
Twitter's first-quarter report indicated a 7% increase in daily monetizable users, bringing the total to 199 million.
This means that Ticketed Spaces' target audience is in the 199 million user range. When the 600-follower rule is applied, it further reduces the potential revenue from Ticketed Spaces. However, a small billable audience is preferable to no billable audience, and the launch of tickets will benefit Twitter if costs are kept to a minimum.
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