Facebook Targets Apple’s 30 Percent Commission With Latest Move

By Benzinga
Benzinga
Benzinga
November 5, 2021 Updated: November 5, 2021

Facebook Inc, rebranded as Meta Platforms Inc, announced its plans to sneak around Apple Inc’s infamous platform fees in an ongoing war between significant software companies and the iOS creator.

Facebook would give eligible creators on its platform new custom links that allow them to accept payments directly, circumventing Apple’s 30 percent cut.

Creators who run Facebook pages eligible for subscriptions can share the new promo links through text or email, pointing their fans to a payments portal run through its payment system, Facebook Pay.

Facebook also announced a new creator bonus program of $5 – $20 under its $1 billion creator program for each new subscriber they sign up for until the end of the year.

A page owner should have 10,000 followers or more than 250 return viewers plus either 50,000 post engagements or 180,000 minutes watched to sign up.

Apple has a standard 30 percent fee from all paid apps and in-app payments made through iOS.

Price Action

FB shares traded higher by 0.34 percent at $332.75 in the premarket session on the last check Thursday.

By Anusuya Lahiri

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

Benzinga