Facebook Flexes Financial Muscle To Break Into Live Audio Market

  • Facebook rebranded Meta Platforms Inc FB is offering musicians and celebrities payments to host Live Audio Rooms, the Information reports
  • In recent weeks, the production companies working for Facebook, owned by Meta (MVRS), have contacted music artists and social media stars offering payment packages to host Facebook Live Audio Rooms.
  • The packages ranged from hundreds of thousands of dollars over several sessions that have exceeded the amount paid by rival social audio app Clubhouse.
  • Related Content: Facebook, Instagram To Pay Content Creators $1B Through 2022 Amid Rising Competition From TikTok, YouTube
  • Price Action: FB shares traded higher by 3.03% at $348.93 in the market session on the last check Friday.
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