Facebook to Forego Creator Commission Till 2023, Charge Lower Commission than Apple

Facebook Inc FB announced it would forego commission on revenue earned by creators via its platform till 2023 and promising a lower commission than Apple Inc’s AAPL App Store commission of 30%.
Facebook will not charge any commission on revenue earned from paid online events, fan subscriptions, badges, and Facebook’s upcoming independent news product, CEO Mark Zuckerberg said in his post.
Facebook also announced a new payout interface launch for creators to analyze the impact of different companies’ fees and taxes on their earnings.
Facebook has strategically timed the announcement with Apple’s annual developer conference today.
Apple and Facebook were recently at loggerheads over the iPhone maker’s hugely debated privacy update launch in April. Facebook expected the update to affect its advertising business by making it challenging to customize personalized ads and track their performance.
Facebook and other app makers panned Apple’s App Store dominance. Apple had also slammed companies that depended on tracking user activity to sell relevant ads.
Price action: FB shares traded higher by 1.73% at $336.08 on the last check Friday.