Social networking service Twitter to take a 20% cut of your sales via Ticketed Spaces

After launching a Clubhouse rival called Spaces, Twitter is now out to make some money via ‘Ticketed Spaces’ and the micro-blogging platform will take a 20 percent cut of your sales, beginning with the users in the US.

Twitter said that the 20 percent cut will cover the cost of transaction fees of online payments processing company Stripes (hosts will also need a Stripe account), reports The Verge.

To begin with, the users in the US will be able to apply to host paid live audio rooms starting in the next couple of weeks.

“Anyone who wants to charge has to have 1,000 followers, have hosted three spaces in the past 30 days, and be at least 18 years old,” the report said on Friday.

The users will receive 80 per cent of revenue after Apple and Google’s in-app purchase fees are taken.

So if you sell a $10 ticket, Apple would presumably take a 30 percent cut, leaving you and Twitter to split the remaining $7. Eighty percent would go to you, and 20 percent would go to Twitter, – the report mentioned.

A limited group will be able to host Ticketed Spaces in the coming months. Hosts earn the majority of the revenue from ticket sales and Twitter will keep a small amount as well.

Hosts can set ticket prices and how many are available to sell.

Twitter has launched live audio conversation app Spaces available to users with 600 followers or more on both iOS and Android platforms.