Facebook said its paid online events feature has growth potential and pro sports leagues could benefit in the future.
Facebook has a plan to turn its live online events product into a pay-per-view option for sports leagues broadcasting games on the social media platform.
It’s a feature Facebook says will help businesses, including sports companies, make more money in a changing content consumption landscape.
The social media giant envisions high school sports teams and smaller leagues using the feature that allows users to make money for virtual attendance, and keep ticket profits—for now.
“I think pay-per-view is by no means on any verge of extinction,” said Rob Shaw, Facebook director of sports media and league partnerships, in an interview with CNBC. “I think this is something that helps breathe new life into it. People are willing to pay to experience a moment.”