Apple Decides to Waive 30% Cut of Paid Events on Facebook, but Only for 3 Months
After weeks of verbal back-and-forth, Apple (NASDAQ: AAPL) has agreed to waive its 30% take of paid events hosted on Facebook (NASDAQ: FB). In an effort to help businesses adapt to the times, Facebook had already said it wouldn't charge its own fees until the summer of 2021. And earlier in September, Apple had blocked a message Facebook sent to its event hosts on its app that Apple would take a cut of transactions.
Apple's decision comes with some caveats, though. For one, the suspension of its 30% cut only lasts through the end of 2020. It is also excluding paid events from video-game companies, saying they don't apply because video games aren't affected by the pandemic, and they've always been digital-based businesses.
Image source: Getty Images.
Source Fool.com
