LinkedIn has been making the monetization of its service a priority for some time. The professional social network now relies on the organization of paid events online.
Content monetization has become a common practice for social networks. Facebook, Instagram and Chinese TikTok are the pioneers. Although it does not compete in the same category, LinkedIn decided to take inspiration from it. The professional social network is however based on a more or less efficient economic model. Recruitment services are its main source of income. Their contribution is estimated at more than 50% of the company’s total turnover. Next come advertising and subscriptions.
LinkedIn wants to make content monetization an important source of income. To do this, the platform plans to rely on the Events feature.
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LinkedIn confirms the development of the functionality The professional platform wants to enrich its content with original content. It does not spare investments in this direction. Two weeks ago, LinkedIn raised just over $ 25 million to fund creators. Its developers are currently working on a feature inspired by the Clubhouse application.
The organization of paid events online is part of the social network’s desire to monetize its content. TechCrunch is an American site that specializes in the news of digital start-ups. Its editors are among the first to discuss the Events feature. They claim to have recently taken part in a test event. The team would have received a code which redirected to a ticket sales area.
A spokesperson then confirmed the development of the feature. The test that the TechCrunch team participated in was to experiment with multiple payment options. LinkedIn developers rely heavily on feedback from users and event planners to design and improve their services.
Also read: LinkedIn Launches Career Explorer to Alleviate Global Unemployment Levels
To retain influential members
The Covid-19 pandemic has shaken up the professional sector. Social distancing and confinement have pushed employees to turn to telecommuting. The context has been favorable to the development of videoconferencing applications such as Zoom. Vaccines against the coronavirus are a less difficult alternative to restriction measures. But the professional world doesn’t seem to want to go back to old ways. Remote working is fast becoming the norm. What pushes LinkedIn to develop new options like Events. The professional social network wants to ensure that its most influential members do not use other platforms to organize events.
For the moment, LinkedIn has not communicated on any release date. The Events feature could however land before the end of the year.
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